NEAR Protocol (NEAR) declined 2.3% to trade near $1.17 on March 31, 2026, extending a weekly loss of over 9.5%. Market data shows a drop in market capitalization to $1.51 billion despite a rise in trading volume, indicating persistent selling pressure. Technical analysis points to a bearish market structure, with the key $1.16 support level viewed as critical for determining the token’s next directional move.
NEAR Protocol (NEAR) faced renewed selling pressure as its price fell by nearly 2.3% on March 31, 2026. The token was trading at $1.17, reflecting sustained weakness across the broader cryptocurrency market.
The latest move reinforced a short-term bearish trend that has been developing over several sessions. According to CoinMarketCap data, the token also recorded a 9.56% weekly decline.
Despite a 28.07% surge in 24-hour trading volume to $176.24 million, the market capitalization dropped by 2.25% to $1.51 billion. This signaled that sellers continued to dominate market direction.
Price action indicated a clear downtrend after a peak around the $1.50 mark. The chart formed a series of lower highs and lower lows, confirming a bearish structure.
The near-term price targets, according to crypto analyst Altcoin Sherpa, are $1.23, then $1.29-$1.30, and finally $1.37. He noted that the last figure is where stronger resistance exists based on previous price structure.
Momentum indicators reinforced the bearish outlook. The RSI (14) was hovering around 41.34, below the 50 line, which indicated a loss in bullish momentum.
The MACD showed a bearish crossover with its line below the signal line. The histogram entered negative territory, a sign that bears were taking control of the market.
The key support level at $1.16 is viewed as pivotal for the token’s next major price move. A break below this level could expose the price to further declines toward $1.07 and potentially $0.95.
