Mixed sentiment leads NEAR cryptocurrency to trade sideways; establishes tight $1.76 to $1.78 range

NEAR Protocol is now trading at $1.78 after tracing out a steady $1.76 – $1.78 range today.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that NEAR Protocol's upper Bollinger Band® is at $2.08 and the lower is $1.73. A study of NEAR Protocol's historical price actions shows NEAR Protocol is climbing away and is now 5 cents from the $1.73 support line.

Overall, technical indicators suggest NEAR has no obvious direction for the immediate future.

While NEAR Protocol is pretty flat so far today, mixed performances are seen elsewhere as FTX Token jumps 9.54% to trade around $1.36. UNICORN Token USD closed at $6.43 (down 2.98%). Binance Coin is up 0.76%.

NEAR is now trading 84.14% below the significant high of $11.17 it set around 11 months ago. NEAR Protocol is currently trading with a market cap of 1.60 billion with an average daily volume of 77 million.