NEAR Protocol (NEAR) is currently priced at $1.68, reflecting a significant 24-hour decline of 7.05%. The daily trading range was tight, fluctuating between $1.67 and $1.81, indicating a lack of momentum in price movement and overall market uncertainty.

Trading volume stands at approximately $199 million, translating to a 9.28% ratio of volume to market cap. The recent downtrend in price is confirmed by the hourly moving averages, with all significant SMAs showing negative percentages, highlighting a bearish sentiment across multiple timeframes.

The 1-hour RSI is at 25, suggesting that NEAR is heavily oversold in the short term, while the 7-day RSI at 44 indicates a potential for rebound if buying pressure increases. Over the past week, NEAR has lost about 11.01%, and the price has consistently declined over the past 14 and 30 days, further compounding bearish sentiment.

Despite the recent price action, the all-time high of $20.44 reached in January 2022 remains a distant target, emphasizing the current struggles of the asset. Given the overbought conditions indicated by the RSI and the potential for a short-term bounce, a cautious approach is warranted.

Considering the bearish trend, ongoing decline, and oversold conditions, I recommend a Hold rating for NEAR Protocol. This strategy allows for monitoring potential recovery signals while avoiding the pitfalls of a continuing downtrend.