NEAR is attempting to reclaim a critical support level after trading within a consolidation channel. Currently priced at 3.38 USD, NEAR’s recent 3.80% decline continues its overall downward trend.

Mixed market indicators reveal a negative funding rate of -0.0170, suggesting confidence in a price decline. Moreover, a significant disparity in liquidation values indicates bearish control, despite some bullish signs in the Taker Buy-Sell Ratio.

A notable decline in Daily Active Addresses from 4.2 million to 3.0 million adds downward pressure on NEAR, suggesting reduced network engagement and potential for further selling.