Marginally higher but lacking a clear-cut direction, NEAR Protocol is trading at $1.9 after ranging between $1.88 and $1.95 today.
NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $1.93, a potential indicator of a newly emerging bullish phase. NEAR Protocol's lower Bollinger Band® is at $1.74, indicating that the market is oversold and fertile for new buyers. Despite this, NEAR could be slowing down soon as it approaches resistance at $2. Of course, crossing it might suggest further gains are ahead.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts NEAR to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the NEAR is expected to pick up significant bullish sentiment in the coming days.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Cosmos USD climbs 4.69% to trade around $11.44. Having closed the previous session at $28,426, Bitcoin is up 2.02% today to currently trade at around $29,000.
Having soared to a high of $13 approximately 11 months ago, NEAR is now trading 85.46% lower. NEAR Protocol has a market cap of 1.70 billion with an average daily volume of 104.59 million.