NEAR Protocol (NEAR) is facing renewed pressure as its price declines by nearly 2.3% today, March 31, 2026. The token is trading at $1.17, reflecting sustained weakness across the broader market.
The latest move reinforces a short-term bearish trend that has been developing over the past several sessions.
According to CoinMarketCap data, the token has also recorded a 9.56% weekly decline, highlighting persistent selling activity.
Despite a 28.07% surge in 24-hour trading volume to $176.24 million, market capitalization has dropped by 2.25% to $1.51 billion, signaling that sellers continue to dominate market direction.
Also Read: NEAR Protocol Records $677M Intents Activity as Bulls Watch $2.20–$2.30
Price action indicates a clear downtrend after peaking around the $1.50 mark, forming a series of lower highs and lower lows.
The latest rally is due to the 0.618 Fibonacci level near the $1.165 mark and indicates a short-term rally, but overall, the chart remains bearish until the major resistance levels are breached.
The near-term price targets, according to a crypto analyst Altcoin Sherpa, are $1.23, then $1.29-$1.30, and finally $1.37. This last figure is where there is stronger resistance, based on the previous price structure and key levels of Fibonacci resistance.
The moving averages are still bearishly aligned, which suggests that any moves towards these areas will likely face selling pressure unless there is a significant shift in momentum and volume in favor of buyers.
However, the downside is that falling below $1.16 exposes the pair to $1.07 and even $0.95, which indicates a full retracement.
Traded with low volumes, the rebound indicates the chances of falling further unless the bulls take charge and establish higher lows above support.
Momentum indicators reinforce the bearish outlook. RSI (14) is hovering around 41.34, which is below the 50 line, indicating a loss in momentum, which is leaning towards a bearish trend.
The recent moves to lower highs on RSI indicate a weakening buying power, while a small increase indicates a possible bounce, but there is no confirmation to take a trade.
The MACD has a bearish crossover for the MACD line, which is located near -0.02159 below the signal line located near 0.00192.
The histogram has gone into the negative region, located around -0.02351. This is because the bears are taking control of the market.
Also Read: NEAR Protocol Signals Breakout Power as $1.12 Level Holds Strong
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
