NEAR Protocol Price Drops Amid Bearish Market Trend

The NEAR Protocol (NEAR) price has been experiencing a decline in value over the past few sessions, with a significant drop of nearly 2.3% on March 31, 2026. The current market capitalization stands at $1.51 billion, indicating a 2.25% decrease from previous levels. Additionally, the 24-hour trading volume has seen a notable surge of 28.07% to reach $176.24 million.

According to CoinMarketCap data, the token's price has recorded a 9.56% weekly decline, highlighting persistent selling activity. This trend is further reinforced by the bearish alignment of moving averages, suggesting that any moves towards potential support levels will likely face selling pressure unless there is a significant shift in momentum and volume in favor of buyers.

The chart analysis indicates a clear downtrend, with price action forming a series of lower highs and lower lows. The Fibonacci level near $1.165 has been breached, but overall, the chart remains bearish until major resistance levels are broken. A crypto analyst predicts that NEAR's short-term price targets will be around $1.23, then $1.29-$1.30, and finally $1.37.