Mixed sentiment leads NEAR Protocol cryptocurrency to trade sideways; establishes tight $1.92 to $1.95 range

Without a clear-cut direction, NEAR Protocol is trading around $1.95 and ranging between $1.92 and $1.95.

NEAR Protocol made an initial break below its 10 day Simple Moving Average at $1.93, a possible indication of a forthcoming negative trend. NEAR's upper Bollinger Band® is at $2.14, suggesting that a downward move may follow. In contrast, NEAR is approaching key support, around 9 cents away from $1.86. 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 the market lacking direction, technical chart analysis strongly suggests NEAR is positioned for a downward move in the near term.

While NEAR Protocol is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is currently trading at $1.36. Dogecoin gained 4.92% and is now trading at $0.1. Bitcoin rises 1.68% to trade around $28,237.

A year ago NEAR reached a significant high of $17.58 but has consequently lost 88.91% since then. NEAR is currently trading with a market cap of 1.69 billion with an average daily volume of 101 million.