NEAR cryptocurrency trades up $0.041, approximately 2.73% higher this afternoon

NEAR posts light gains on a low-volatility day, ranging between $1.94 – $2.02 and is now at $2.

NEAR Protocol made an initial breakout above its 50 day Simple Moving Average at $2, a potential indicator of a newly emerging bullish phase. NEAR's lower Bollinger Band® is at $1.79, indicating that the market is oversold and fertile for new buyers. On the other hand, note that after reaching the known resistance zone beginning at $2, NEAR price action retreated approximately 3 cents.

Overall, looking at the technical analysis landscape, it seems NEAR might continue pointing upwards in the short term.

NEAR Protocol shows positive signs, other assets are also on par: Bitcoin is up 5.51%. FTX Token is up 9.54% to $1.36. Having closed the previous session at $1,864.82, Ethereum is up 4.83% today to currently trade at around $1,955.

NEAR has shed $11.08 points and is languishing 85% lower over the past year, leaving its yearly highs around $13.03 in the rear-view mirror. NEAR Protocol has a market cap of 1.80 billion with an average daily volume of 100.51 million.