NEAR Protocol gains positive traction for a 4th successive day

NEAR Protocol trades at $1.66 after gaining $0.023 (1.42%).

Support/Resistance levels obtained from chart analysis indicate that NEAR Protocol broke through the $1.64 resistance and climbed 2 cents above it. Trend analysis indicates that NEAR Protocol made an initial breakout above its 21 day Simple Moving Average at $1.64, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that NEAR's upper Bollinger Band® is at $1.71, this is a slight indication of a slowdown.

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

Other markets are also showing gains as FTX Token is up 9.54%. Bitcoin goes up 2.75% to trade around $27,600. Cardano climbs 3.18% to trade around $0.379.

NEAR has fallen back around 72.7% over the past 9 months, from a notable high of $6. NEAR Protocol has a market cap of 1.51 billion with an average daily volume of 50.57 million.