NEAR cryptocurrency trades up $0.091, approximately 6.52% higher going into tomorrow

NEAR has rallied $0.091, or 6.52%, to now stand at $1.49.

NEAR Protocol made an initial breakout above its 50 day Simple Moving Average at $1.49, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $1.44 by around $0.053 with prices hammering out a $1.36 – $1.61 session range. In contrast, although NEAR is appreciating today after rising as high as $1.61, price action is now slowing and consolidating around 16 cents below the $1.65 resistance level. Bollinger Band® analysis indicates that current price action is approaching the upper band at $1.55, thereby suggesting that NEAR Protocol is becoming overvalued.

According to technical analysis, it looks as if NEAR likely to continue pointing upward in the short term.

Other markets are also showing gains as Bitcoin Cash is up 13.88%. FTX Token surges 9.54% to trade around $1.36.

Meanwhile, Dogecoin is down $0.002 from the beginning of the session and now trades around $0.064.

NEAR Protocol hit a significant low of $1.18 around 13 days ago, but has since recovered 18.89%. NEAR is currently trading with a market cap of 1.38 billion with an average daily volume of 63 million.