NEAR Protocol (NEAR) is currently trading at $1.058, reflecting a 4.91% increase over the last 24 hours. The daily trading range has been narrow, between a low of $1.003 and a high of $1.059, indicating a consolidation phase with a tight price movement.

Trading volume stands at approximately 134.72 million, representing 9.90% of its market cap, which suggests a relatively active market for NEAR. The moving averages show a positive trend, with the 55 SMA indicating the strongest upward momentum at +4.15%, while shorter-term averages are also in positive territory, contributing to an overall bullish sentiment.

The 1-hour Relative Strength Index (RSI) is at 75, indicating that NEAR is currently overbought in the short term. Conversely, the 7-day RSI is at 49, suggesting a neutral position, while the price has seen a minor increase of 3.09% over the past week, yet remains significantly down 31.52% over the last month.

NEAR’s all-time high of $20.44 from January 2022 highlights the substantial potential for price recovery, although the current valuation remains well below that peak. With the recent price action and moving averages aligning positively, NEAR could be positioned for a breakout if it maintains this momentum.

Given the combination of bullish short-term indicators and the relative stability in the medium-term RSI, the recommendation is to Hold. This allows for potential short-term gains while assessing further market conditions before making a buy decision, especially considering the substantial drop over the last month.