Mixed sentiment leads NEAR cryptocurrency to trade sideways; establishes tight $1.33 to $1.38 range

Without a clear-cut direction, NEAR is trading around $1.34 and ranging between $1.33 and $1.38.

NEAR Protocol made an initial breakout above its 21 day Simple Moving Average at $1.35, a potential indicator of a newly emerging bullish phase. NEAR Protocol is approaching key support, around 4 cents away from $1.3. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite muted price action in NEAR Protocol, chart analysis indicates it is positioned for a bullish run in the short term.

Other markets show mixed performance as FTX Token leaps up 9.54% to trade around $1.36. Binance Coin is down to $242.66, losing $6.34, after closing at $249 in the preceding trading session. Solana is down to $16.77, losing $0.486, after closing at $17.25 in the preceding trading session.

Having set a significant low of $1.18 9 days ago, NEAR is trading 13.71% higher. NEAR Protocol is currently trading with a market cap of 1.23 billion with an average daily volume of 51.33 million.