Mixed sentiment leads NEAR Protocol cryptocurrency to trade sideways; establishes tight $1.19 to $1.24 range

Without a clear-cut direction, NEAR is trading around $1.2 and ranging between $1.19 and $1.24.

NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $1.23, a potential indicator of a newly emerging bullish phase. NEAR's upper Bollinger Band® is at $1.81 and the lower is $1.12. NEAR Protocol is approaching key support, around 3 cents away from $1.17. 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.

Although price action remains in a stalemate, technical analysis suggests NEAR could be primed for a break to the upside.

While NEAR is pretty flat so far today, mixed performances are seen elsewhere as FTX Token surges 9.54% to trade around $1.36. Having closed the previous session at $231.07, Binance Coin is up 4.74% today to currently trade at around $242.03. Bitcoin Cash increases 3.15% to trade around $105.93.

NEAR Protocol has fallen back around 80% over the past 10 months, from a notable high of $6. NEAR Protocol is currently trading with a market cap of 1.10 billion with an average daily volume of 53.96 million.