NEAR Protocol cryptocurrency trades up $0.024, approximately 1.98% higher going into tomorrow

Currently trading at $1.23, NEAR remains range-bound between $1.19 and $1.23.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates NEAR is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that NEAR's lower Bollinger Band® is at $1.21, indicating that the market is oversold and fertile for new buyers. As the trading day comes to an end, chart analysis indicates NEAR could be slowing down soon as it approaches resistance at $1.34. Of course, crossing it might suggest further gains are ahead.

All in all, the technical analysis suggests NEAR Protocol has no clear-cut direction.

Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36. MaticNetwork USD is up 6.07%. Ripple improves 3.49% to trade around $0.525.

Having soared to a high of $6 approximately 9 months ago, NEAR Protocol is now trading 79.91% lower. NEAR Protocol has a market cap of 1.12 billion with an average daily volume of 52.92 million.