NEAR cryptocurrency trades up $0.013, approximately 0.65% higher this afternoon

After ending the previous trading day at $2.06, NEAR Protocol went up to $2.1 only to drop back; still positive overall today, now trading at $2.08.

NEAR Protocol made an initial breakout above its 50 day Simple Moving Average at $2.06, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $2.09 currently serving as resistance Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $2.09, thereby suggesting that NEAR Protocol is becoming overvalued. NEAR could be slowing down soon as it approaches resistance at $2.1. Of course, crossing it might suggest further gains are ahead.

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 FTX Token gained 9.54% and is now trading at $1.36. Solana goes up 6.56% to trade around $22.28. Having closed the previous session at $318.54, Binance Coin is up 3.49% today to currently trade at around $329.64.

11 months ago NEAR reached a significant high of $17.45 but has consequently lost 88.17% since then. NEAR has a market cap of 1.84 billion with an average daily volume of 79.15 million.