NEAR Protocol cryptocurrency trades up $0.026, approximately 1.63% higher this afternoon

NEAR goes up to $1.62 after dipping down to $1.54 earlier.

NEAR Protocol made an initial breakout above its 5 day Simple Moving Average at $1.63, a potential indicator of a newly emerging bullish phase. NEAR's lower Bollinger Band® is at $1.55, indicating that the market is oversold and fertile for new buyers. Despite this, NEAR Protocol is 3 cents away from testing key resistance at $1.65. Peaking above this level could inspire market bulls and open the path to further gains.

NEAR continues to move higher with technical analysis indicating the trend will continue 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.

Meanwhile, Bitcoin slips 2.4% to trade around $26,342. After ending today's session at $81.04, Litecoin lost $2.49 and is trading around $78.56.

Over the past 11 months, NEAR Protocol has retreated 78.3% from a noteworthy peak of $7.37. NEAR Protocol has a market cap of 1.46 billion with an average daily volume of 54.56 million.