The quasi-protocol fell to its lowest level in more than sixteen months as downside pressure intensified on November 21st. Algorand was another notable token to fall, dropping over 11% today.
Near Protocol (NEAR)
The near protocol (NEAR) fell to its lowest level in over a year as the token extended recent declines.
NEAR/USD fell to a low of $1.50 on Monday, slipping for a sixth straight session in the process.
This price drop saw NEAR hit its lowest point since July 20 of last year, and it has since settled to its low of $1.50.
Looking at the chart, prices have since rebounded from the support point and, at the time of writing, the token is trading at $1.55.
On the other hand, the 14-day Relative Strength Index (RSI) could not stay above its low of 24.50 and currently stands at 22.85.
For NEAR to move further away from the $1.50 point, we will likely need to see the index climb closer to a reading of 25.00.
Another notable mover to start the week was Algorand (ALGO), with prices down over 11% in today’s session.
After a high of $0.2855 over the weekend, ALGO/USD moved to an intraday low of $0.2452 on Monday.
The move saw the token fall below a key support point of $0.25, as the bears appear to be pushing the price to lows of $0.24.
Looking at the chart, the RSI is at its own low at 38.20, which seems to help prevent further price declines.
However, should a breakout occur, it would likely cause the bears to intensify market pressure, potentially sending the token to the target mentioned above.
As of this writing, ALGO is trading at $0.2496, nearly 12% below yesterday’s high.
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