Mixed sentiment leads NEAR cryptocurrency to trade sideways; establishes tight $1.58 to $1.62 range

After dropping down to $1.58, NEAR Protocol recovers some losses and is currently trading at $1.61.

NEAR Protocol's upper Bollinger Band® is at $1.82 and the lower is $1.54. NEAR Protocol is approaching key support, around 1 cents away from $1.6. 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, 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%. Having closed the previous session at $0.075, TRON is up 4.73% today to currently trade at around $0.079. Binance Coin climbs 1.05% to trade around $309.85.

Over the past a year, NEAR has retreated 74.25% from a noteworthy peak of $6.26. NEAR is currently trading with a market cap of 1.46 billion with an average daily volume of 51 million.