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June 08, 2023Without a clear-cut direction, NEAR Protocol is trading around $1.41 and ranging between $1.39 and $1.42.
Following today's trading session, chart analysis suggests after reaching the $1.37 support zone, NEAR Protocol bounced and climbed 4 cents above it. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, NEAR's upper Bollinger Band® is at $1.72 and the lower is $1.41.
The current technical outlook indicates NEAR Protocol will continue to ebb sideways within tight ranges for the immediate future.
At the same time, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. Having closed the previous session at $0.862, EOS is up 3.15% today to currently trade at around $0.889. Binance Coin rises 1.97% to trade around $264.3.
NEAR reached a significant high of $6 around 9 months ago but has lost 76.4% since then. NEAR is currently trading with a market cap of 1.29 billion with an average daily volume of 45.91 million.
