NEAR Protocol is currently trading at $1.66, reflecting a slight increase of 1.02% over the past 24 hours. The daily price range has been narrow, with a high of $1.68 and a low of $1.64, indicating a lack of volatility in the short term.

Trading volume stands at approximately $109.75 million, contributing to a volume-to-market cap ratio of 5.16%. This suggests moderate liquidity, but the relatively low volume may hinder significant price movements in the absence of strong market catalysts.

Short-term moving averages show a mixed sentiment; the 8 SMA and 13 SMA indicate slight upward momentum, while the 55 SMA suggests a downward trend. The 144 SMA is notably lower at $1.72, indicating longer-term bearish pressure as it is below the current price.

The 1-hour Relative Strength Index (RSI) is at 40, positioning NEAR near the lower end of the neutral range, suggesting potential oversold conditions. However, the 7-day RSI of 48 indicates that the asset is not yet in oversold territory, providing limited upward momentum in the near term.

Over the past week, NEAR has declined by approximately 3.47%, while its performance over the last 14 and 30 days reflects even steeper declines of 10.76% and 31.60%, respectively. This sustained downward trend highlights a bearish sentiment prevailing among traders, reinforcing caution in the current market environment.

Despite the potential for short-term recovery indicated by recent SMA movements, the overall trend remains bearish, with NEAR still far below its all-time high of $20.44 reached in January 2022. The combination of declining price momentum and moderate liquidity suggests that a strong reversal is not imminent.

Given the current technical indicators, overall market conditions, and recent price action, a Hold rating is appropriate for NEAR Protocol. This rating acknowledges the potential for short-term gains but also emphasizes the significant bearish trend that requires careful monitoring.