Close to Protocol (NEAR)
As the token continued its current downward trend, the value of the Near protocol (NEAR) sank to its lowest point in more than a year.

On Monday, the NEAR/USD exchange rate dropped to a new session low of $1.50, marking the sixth consecutive session of decline.

As a result of the recent price decline, NEAR has reached its lowest point since July 20 of the previous year, and it has now stabilized at its floor price of $1.50.

The most significant price changes on Monday were NEAR falling to its lowest level in 16 months and ALGO falling more than 11%.
Daily Chart of the NEAR/USD Pair
When we look at the chart, we can see that prices have increased since reaching the point of support, and while this article is being written, the token is trading at $1.55.

On the other hand, the relative strength index (RSI) during the past 14 days was unable to maintain its position above the floor of 24.50 and is now hovering at 22.85.

In order for NEAR to go farther away from the $1.50 mark, the index will probably need to climb closer to a level of 25.00 before we can consider that goal achieved.

Algorand (ALGO) (ALGO)
Another cryptocurrency that made headlines today was Algorand (ALGO), which had a price decline of more than 11% during today's trading session.

On Monday, after reaching a high of $0.2855 over the weekend, the ALGO/USD currency pair dropped to an intraday low of $0.2452.

The move caused the token's price to drop below an important support level of $0.25, and bears currently appear to be driving the price to a floor of $0.24.

The largest movers were NEAR falling to its lowest level in 16 months and ALGO. On Monday, prices dropped by more than 11%.
Daily Chart of the ALGO/USD Pair
When seen on the chart, the Relative Strength Index (RSI) appears to be consolidating at a floor of its own at 38.20, which appears to be helping to limit additional price drops.

In the event that a breakthrough does take place, however, this will very certainly cause bears to increase their market pressure, which might drive the token to the objective that was previously suggested.

As this article is being written, ALGO is trading at $0.2496, which is roughly 12% lower than its peak point from yesterday.

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Why was there a significant spike in the market's volatility on Monday? Leave a comment below and tell us what you think about this.