Mixed sentiment leads NEAR Protocol cryptocurrency to trade sideways; establishes tight $2 to $2 range

Without a clear-cut direction, NEAR is trading around $2 and ranging between $2 and $2.

NEAR Protocol made an initial break below its 21 day Simple Moving Average at $2, a possible indication of a forthcoming negative trend. NEAR's upper Bollinger Band® is at $2.08, suggesting that a downward move may follow. Despite this, NEAR Protocol is approaching key support, around 5 cents away from $1.96. 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 Protocol is positioned for a downward move in the near term.

Other markets show mixed performance as FTX Token rallies 9.54% to trade around $1.36. Having closed the previous session at $1.22, EOS is up 1.08% today to currently trade at around $1.23. UNICORN Token USD is up 1.62%.

NEAR has fallen back around 88.51% over the past a year, from a notable high of $17.57. NEAR Protocol has a market cap of 1.74 billion with an average daily volume of 90.16 million.