Why is NEAR Protocol price down today despite a buy signal?

NEAR Protocol price has fallen nearly 7% to $3.74 on November 6 as heavy cryptocurrency liquidations and losses across US technology stocks have pushed the token toward critical support levels. NEAR Protocol price fell 7% to $3.74 as cryptocurrency liquidations exceeded $1 billion across markets. NEAR's approved issuance reduction proposal has failed to prevent further losses amid widespread cryptocurrency selling pressure. Analyst Ali Martinez identified a TD Sequential buy signal, targeting potential recoveries toward $4.30 and $4.80. NEAR faces immediate support around $3.60, with a breakdown potentially exposing lower levels near $3.20.

Source: crypto.news