NEAR Price Stalls at Upper Bollinger Band, Momentum Flatlining

The price of NEAR has been stalled at its upper Bollinger band at $2.30, with momentum flatlining according to Terrill Dicki in a blockchain.news report on September 8th.

A technical analysis of the market context reveals that NEAR Protocol is sitting on a constructive medium-term structure, having reclaimed and traded above every major moving average, including the 7-day, 20-day, 50-day, and even the 200-day SMA at $1.69.

However, the easy money has already been made, with NEAR compressed into the upper end of its Bollinger Band envelope, making it a crowded long setup that could be punished by the market if it fails to break through the resistance band at $2.39-$2.47.