NEAR slides 6% in a day – Here’s why traders expect more losses

NEAR Protocol [NEAR] was one of the “most viewed coins” on the 2nd of November, according to CoinGecko on X. The AI-native platform's utility token has shed 6.48% in 24 hours, with a 15.7% decrease in daily trading volume. The short-term losses were part of the 32% price correction NEAR saw in the past three weeks. A wider market sell-off has prompted the altcoin's descent from $4.72 to $4.07. Earlier, the $4.30 and $4.60 levels were pointed out as key levels for the bulls to defend. Their defense has gone awry, and now the token's price action is ripe for deeper drawdown. NEAR was also in the news recently when Premia Labs was drained of $464k.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.