Mixed sentiment leads NEAR cryptocurrency to trade sideways; establishes tight $1.6 to $1.64 range

After ending today at $1.61, today NEAR Protocol went up to $1.64 before paring back gains and settling around $1.62.

As the trading day comes to an end, chart analysis indicates NEAR Protocol is approaching key support, around 5 cents away from $1.57. 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. Technical analysis trend indicators suggest that NEAR Protocol made an initial breakout above its 21 day Simple Moving Average at $1.62, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that NEAR's upper Bollinger Band® is at $1.7, suggesting that a downward move may follow.

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

While NEAR Protocol is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. TRON slides down 2.11% to trade around $0.082. Litecoin is up 1.38%.

Over the past 9 months, NEAR has retreated 73.05% from a noteworthy peak of $6. NEAR is currently trading with a market cap of 1.47 billion with an average daily volume of 47.90 million.