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

Without a clear-cut direction, NEAR is trading around $1.94 and ranging between $1.92 and $1.95.

NEAR Protocol bounced after reaching the $1.91 support zone, climbing 3 cents above it. NEAR Protocol made an initial breakout above its 3 day Simple Moving Average at $1.93, a potential indicator of a newly emerging bullish phase. When "Bullish Engulfing” is detected at the bottom of a bearish trend, it is typically indicative of a trend reversal. NEAR's upper Bollinger Band® is at $2.38 and the lower is $1.81.

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 rallies 9.54% to trade around $1.36. TRON is up 1.26%. After ending today's session at $0.472, Ripple lost $0.004 and is trading around $0.468.

NEAR Protocol has shed $13.39 points and is languishing 87.31% lower over the past year, leaving its yearly highs around $15.32 in the rear-view mirror. NEAR Protocol has a market cap of 1.73 billion with an average daily volume of 105.87 million.