NEAR trades at $2.35 after gaining $0.061 (2.65%).
NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $2.28, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $2.33 by around $0.019 with prices hammering out a $2.25 – $2.4 session range. Despite this, after reaching the known resistance zone beginning at $2.34, NEAR Protocol price action retreated approximately 1 cents. Bollinger Band® analysis indicates that current price action is approaching the upper band at $2.4, thereby suggesting that NEAR is becoming overvalued.
Overall, looking at the technical analysis landscape, it seems NEAR Protocol likely to continue pointing upward in the short term.
NEAR shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Chainlink USD rises 6.48% to trade around $8.7. Bitcoin is up 2.43%.
Having soared to a high of $17.45 approximately 11 months ago, NEAR is now trading 86.89% lower. NEAR is currently trading with a market cap of 2 billion with an average daily volume of 95.58 million.