Mixed sentiment leads NEAR cryptocurrency to trade sideways; establishes tight $1.64 to $1.69 range

Without a clear-cut direction, NEAR is trading around $1.65 and ranging between $1.64 and $1.69.

NEAR Protocol is approaching key support, around 3 cents away from $1.63. 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 10 day Simple Moving Average at $1.66, a potential indicator of a newly emerging bullish phase. NEAR Protocol's upper Bollinger Band® is at $1.96 and the lower is $1.51.

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

Other markets show mixed performance as FTX Token is up 9.54%. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Litecoin moves up 1.97% to trade around $91.89.

NEAR Protocol is trading 74.9% lower compared to the $6.58 high it reached over the past year. NEAR has a market cap of 1.50 billion with an average daily volume of 50.58 million.