NEAR cryptocurrency trades up $0.028, approximately 2.34% higher going into tomorrow

Currently trading at $1.2, NEAR Protocol remains range-bound between $1.16 and $1.22.

NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $1.21, a potential indicator of a newly emerging bullish phase. NEAR Protocol's lower Bollinger Band® is at $1.07, indicating that the market is oversold and fertile for new buyers. Despite this, NEAR could be slowing down soon as it approaches resistance at $1.24. Of course, crossing it might suggest further gains are ahead.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts NEAR Protocol to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the NEAR Protocol is expected to pick up significant bullish sentiment in the coming days.

NEAR shows positive signs, other assets are also on par: FTX Token jumps 9.54% to trade around $1.36. Bitcoin Cash is up 3% to $104.82. Bitcoin increases 2.15% to trade around $25,635.

Over the past 10 months, NEAR has retreated 80.4% from a noteworthy peak of $6. NEAR Protocol has a market cap of 1.11 billion with an average daily volume of 54.00 million.