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March 01, 2023
Tentatively higher from an earlier low of $2.22, NEAR Protocol is up to $2.3 today, adding $0.069, or 3.1%, to today's closing price of $2.23.
Price action overcame a known Fibonacci resistance level at $2.25 by around $0.048 with prices hammering out a $2.22 – $2.3 session range. NEAR's lower Bollinger Band® is at $2.1, indicating that the market is oversold and fertile for new buyers. Despite this, NEAR could be slowing down soon as it approaches resistance at $2.32. Of course, crossing it might suggest further gains are ahead.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts NEAR 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.
Other markets are also showing gains as FTX Token is up 9.54%. Having closed the previous session at $6.35, Polkadot is up 2.47% today to currently trade at around $6.51.
Meanwhile, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
NEAR Protocol is now trading 87.32% below the significant high of $17.58 it set around 10 months ago. NEAR has a market cap of 1.98 billion with an average daily volume of 133.80 million.
