| 
June 04, 2023After ending the previous trading day at $1.62, NEAR went up to $1.65 only to drop back; still positive overall today, now trading at $1.64.
Trend and momentum analysis indicates that NEAR Protocol made an initial breakout above its 21 day Simple Moving Average at $1.62, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that NEAR Protocol's upper Bollinger Band® is at $1.7, this is a slight indication of a slowdown. Following today's trading session, chart analysis suggests NEAR Protocol is 1 cents away from testing key resistance at $1.63. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, the technical outlook suggests NEAR Protocol is likely to remain muted for the immediate future, with no clear-cut direction.
NEAR shows positive signs, other assets are also on par: FTX Token is up 9.54%. Having closed the previous session at $0.519, Ripple is up 3.36% today to currently trade at around $0.537. Having closed the previous session at $21.21, Solana is up 4.91% today to currently trade at around $22.25.
Having soared to a high of $6 approximately 9 months ago, NEAR is now trading 73% lower. NEAR has a market cap of 1.50 billion with an average daily volume of 47.61 million.
