NEAR Protocol has witnessed a decrease in active addresses, dropping from 4.2 million on January 1st to 3.2 million. This decline indicates reduced activity and interest, often impacting the price negatively. The significant drop suggests fewer participants are engaging with NEAR, which can push the price further down.
Technical analysis confirms a bearish outlook for NEAR. The Average Directional Index (ADX) is HIGH, indicating strong bearish momentum. Additionally, the death cross pattern formed, where the signal line crosses above the MACD line, supports the prediction of a price drop, potentially as low as 4.87 USD if sell pressure increases.