NEAR cryptocurrency trades up $0.03, approximately 1.85% higher this afternoon

After closing at $1.62 today, NEAR Protocol began today at $1.62 with significant bullish sentiment driving NEAR Protocol's price action higher. So far today, price action has drawn out a distinct $1.61 to $1.67 range.

NEAR Protocol made an initial breakout above its 3 day Simple Moving Average at $1.67, a potential indicator of a newly emerging bullish phase. NEAR's lower Bollinger Band® is at $1.6, indicating that the market is oversold and fertile for new buyers. On the other hand, note that NEAR Protocol broke through the $1.64 resistance and climbed 1 cents above it.

NEAR continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as FTX Token soars 9.54% to trade around $1.36. Cosmos USD added 5.25% to its value, now trading at $10.92.

At the same time, Bitcoin Cash slips 3.11% to trade around $118.19.

NEAR Protocol is trading 83.03% lower compared to the $9.57 high it reached over the past year. NEAR Protocol has a market cap of 1.49 billion with an average daily volume of 62.55 million.