NEAR Tests $4.30-$4.60 Support as Derivatives Activity Cools
Photo: TokenPost
NEAR Protocol (NEAR) fell about 10% in the 24 hours through 11 a.m. ET Oct. 29, putting its $4.30-$4.60 daily-chart zone under pressure as crypto markets weakened after Bitcoin (BTC) dropped below $80,000. NEAR traded below its 20-day and 50-day exponential moving averages. Its open-interest reading of $807.46 million points to weaker derivatives participation and fewer leveraged positions. The funding rate fell to 0.003% after several weeks of positive readings. That decline may reflect either reduced demand for leveraged long positions or increased bearish sentiment. The rate alone does not distinguish between those explanations.
Source: TokenPost
