NEAR Protocol cryptocurrency trades up $0.019, approximately 1.56% higher going into tomorrow

Currently trading at $1.21, NEAR Protocol remains range-bound between $1.18 and $1.23.

NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $1.21, a potential indicator of a newly emerging bullish phase. On the other hand, note that NEAR Protocol price action is currently oscillating around the $1.22 resistance level with prices moving above and below several times during the session.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts NEAR Protocol to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the NEAR is expected to pick up significant bullish sentiment in the coming days.

NEAR shows positive signs, other assets are also on par: FTX Token is up 9.54%. Bitcoin moves up 3.08% to trade around $26,300. Bitcoin Cash is up 3.36% to $108.07.

Having set a significant high of $6 10 months ago, NEAR is trading 80.05% lower. NEAR has a market cap of 1.12 billion with an average daily volume of 54.55 million.