NEAR is currently in a downward trend, but signs of recovery may appear soon.

On-chain indicators show a decrease in the number of active addresses, and the number of open positions in the past few days has also been decreasing.
Technical indicators show that the recent downward trend of NEAR is weakening.
NEAR is one of the worst performing tokens in the market recently, down 16.44% in the past month and another 6.57% in the past 24 hours - a sign of its bearish trajectory.

However, despite this negative sentiment, market analysis suggests that the bearish momentum may be weakening. This cooling-off period could lay the foundation for a significant rebound in prices, potentially offsetting recent losses.
Lack of interest leads to NEAR's decline
According to Artemis, the number of daily active addresses on the NEAR Protocol has declined - a sign of waning interest from users and investors.

Active Addresses (AA) is a key indicator for measuring network utility and usage, closely related to the perceived value of tokens. When active addresses and prices both decline, it indicates a decrease in interest, which may lead to further price drops.

At the time of writing this article, the daily active addresses of NEAR have dropped significantly for four consecutive days, from 4.4 million to 3.9 million. According to CoinMarketCap, this decline is reflected in the price of NEAR, with a cryptocurrency trading price of $5.11 at the time of publication.