NEAR cryptocurrency trades up $0.032, approximately 2% higher this afternoon

NEAR has rallied $0.032, or 2%, to now stand at $1.64.

Concerning technical analysis and more specifically, trend indicators, NEAR Protocol made an initial breakout above its 10 day Simple Moving Average at $1.66, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $1.79, thereby suggesting that NEAR is becoming overvalued. Chart analysis indicates NEAR broke through the $1.63 resistance, climbing 1 cents above it.

Overall, the technical outlook suggests NEAR Protocol is likely to remain muted for the immediate future, with no clear-cut direction.

NEAR Protocol shows positive signs, other assets are also on par: FTX Token is up 9.54%. Having closed the previous session at $26,854, Bitcoin is up 1.7% today to currently trade at around $27,300. Binance Coin is up 1.7% to $314.51.

NEAR Protocol is now trading 73.1% below the significant high of $6 it set around 9 months ago. NEAR is currently trading with a market cap of 1.49 billion with an average daily volume of 48.75 million.