NEAR Protocol (NEAR) is currently trading at $2.34, reflecting a 24-hour change of -2.31%. The daily range has been relatively tight, with a high of $2.55 and a low of $2.23, indicating limited volatility in the short term.

The trading volume stands at approximately 536.86 million, representing 18.05% of the market cap, which suggests active market participation but could also indicate potential selling pressure. Technical indicators show bearish sentiment, with the hourly moving averages displaying a downward trend; specifically, the 8 SMA is at $2.29 and the 21 SMA at $2.40.

The 1-hour RSI is currently at 33, indicating that NEAR is in the oversold territory, which may suggest a short-term rebound could occur. In contrast, the 7-day RSI is at 42, indicating a weak but improving momentum over the past week, despite a significant decline of over 21% in price during that timeframe.

NEAR has seen a slight recovery over the last 14 days, with a price change of approximately 7.60%. However, this is overshadowed by a more considerable decline of 21.20% over the past week, raising concerns about the overall strength of the current price action.

Given that the all-time high for NEAR is $20.44, achieved on January 16, 2022, the current price shows significant distance from its peak. This suggests that while there is potential for long-term recovery, the short-term technical indicators point to continued weakness.

In conclusion, the combination of bearish technical indicators, an oversold RSI, and the recent price declines suggests caution. Therefore, the rating for NEAR Protocol is Hold, as investors may want to wait for clearer bullish signals or a reversal pattern before making new positions.