NEAR Protocol (NEAR) is still experiencing strong selling pressure, with the asset unable to regain momentum. Analysts have indicated that the current bearish trend is likely to continue, leading to further price drops to lower support levels.
At press time, NEAR is trading at $1.21, with a 24-hour trading volume of $262.74 million and a market capitalization of $1.57 billion. Over the last 24 hours, the token has declined by 2.17%, signaling continued downward movement in the market.
NEAR Faces Short-Term Bearish Pressure
Crypto analyst Crypto Patel, in a tweet on March 7, 2026, shared a detailed analysis of the NEAR, stating that the price of the NEAR might be affected by the sell-side liquidity, leading to a price of $0.84. Patel explained that the cryptocurrency is undergoing a lower high pattern in the IFVG.
Crypto Patel suggested a short-term plan with an entry at $1.211, a stop loss at $1.341, and targets at $0.953 and $0.841, emphasizing the fact that the token is likely to go down if it breaks and tests the IFVG.
Technical Indicators Signal NEAR Weakness
Technical indicators support the bearish analysis. For instance, the Relative Strength Index (RSI) for the weekly chart is at 38.41, which is far from the 50-neutral point. This shows that there is little buying pressure.
Moving Average (MA) Ribbon is another indicator showing that the market is bearish, since NEAR is far from the key averages at $1.65, $2.18, $3.22, and $3.66. This shows that the bears are in control and may continue pushing the price downwards.
Additionally, the MACD indicator reinforces the pressure on NEAR Protocol as the MACD line is at -0.38321, below the signal line at -0.36455. The histogram is close to the value of -0.01866, implying a low momentum and a possible drop in the price.
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Bearish Trend Persists for NEAR Protocol
The levels around $0.95 and $0.84 are likely to be of interest to market analysts. Unless the NEAR token starts to show signs of reclaiming higher ground, the short-term outlook remains questionable. Analysts have indicated that falling below the IFVG could lead to greater liquidity moves and prolong the bearish trend.
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