NEAR Protocol cryptocurrency trades up $0.07, approximately 5% higher going into tomorrow

NEAR trades at $1.45 after gaining $0.07 (5%).

Technical analysis trend indicators suggest that NEAR Protocol made an initial breakout above its 50 day Simple Moving Average at $1.47, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $1.42 by around $0.03 with prices hammering out a $1.36 – $1.48 session range. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $1.54, thereby suggesting that NEAR is becoming overvalued. As the trading day comes to an end, chart analysis indicates although NEAR is appreciating today after rising as high as $1.48, price action is now slowing and consolidating around 5 cents below the $1.5 resistance level.

Overall, while NEAR has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Over the past 10 months, NEAR Protocol has retreated 76.9% from a noteworthy peak of $6. NEAR has a market cap of 1.35 billion with an average daily volume of 66.99 million.