Mixed sentiment leads NEAR cryptocurrency to trade sideways; establishes tight $1.88 to $1.95 range

Without a clear-cut direction, NEAR Protocol is trading around $1.9 and ranging between $1.88 and $1.95.

NEAR Protocol is approaching key support, around 13 cents away from $1.77. 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. 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's upper Bollinger Band® is at $2.41 and the lower is $1.74.

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

Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. Having closed the previous session at $10.93, Cosmos USD is up 4.92% today to currently trade at around $11.47. Bitcoin is up 1.61%.

Having set a significant high of $13 11 months ago, NEAR is trading 85.46% lower. NEAR is currently trading with a market cap of 1.69 billion with an average daily volume of 104.59 million.