NEAR cryptocurrency trades up $0.106, approximately 4.61% higher this afternoon

NEAR Protocol trades at $2.39 after gaining $0.106 (4.61%).

NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $2.28, a potential indicator of a newly emerging bullish phase. NEAR broke through the $2.34 resistance and climbed above it 6 cents; next resistance level is at $2.37. On the other hand, note that Bollinger Band® analysis indicates that current price action is approaching the upper band at $2.41, thereby suggesting that NEAR Protocol is becoming overvalued.

Overall, looking at the technical analysis landscape, it seems NEAR Protocol likely to continue pointing upward in the short term.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $29,447, Bitcoin is up 3.25% today to currently trade at around $30,400. Chainlink USD is up 6%.

NEAR has fallen back around 86.89% over the past 11 months, from a notable high of $17.45. NEAR Protocol is currently trading with a market cap of 2.13 billion with an average daily volume of 95.58 million.