The strong upward momentum of the token towards the breakout from the main resistance level is indicated by the NEO price prediction. In the meantime, buyers are attempting to give the NEO token the push it needs to break over the upper trendline on the daily time frame chart. Sellers are still active in the trade, attempting to bring NEO cryptocurrency back into the pattern.
To hold at the first resistance and advance towards the second resistance of $14.79, the NEO price must maintain the current rate of accumulation. Furthermore, in order to confirm the token’s breakthrough, the NEO cryptocurrency price is attempting to keep itself above the 20, 50, 100, and 200-days Daily Moving Averages.
NEO price was $12.90 and throughout the day’s trading session, it increased by 3.47% of its market value. The 26% rise in trading volume demonstrates the bulls’ rate of accumulation throughout the intraday trading session. Market capitalization to volume was 0.05268.
Will NEO Price Sustain or Get Detained?
NEO price prediction suggests the uptrend momentum of NEO crypto towards the upper resistance level and register its breakout. Meanwhile, if NEO successfully breaks out from the primary resistance then it may try for the secondary resistance level of $14.79. However, sellers may approach to pull the NEO crypto price from the primary resistance level.
NEO price has gained 3.78% in a week and 11.32% in a month. Neo token has surged 72.36% in the last three months and 66.58% in the last six months. Moreover, NEO has gained excellently around 109.88% year to date confirming the facts of NEO crypto’s maximum recovery during 2023.
Technical indicators suggest strong upward momentum of NEO crypto over the daily time frame chart. Relative strength index showcases the uptrend momentum of NEO cryptocurrency.
MACD exhibits the upward velocity of the NEO token. The MACD line is about to cross the signal line upwards, registering a positive crossover. Investors in NEO cryptocurrency need to wait until the token sustains at the primary resistance of $13.26 to reach the secondary resistance of $14.80.
Summary
The strong upward momentum of the token towards the breakout from the main resistance level is indicated by the NEO price prediction. To hold at the first resistance and advance towards the second resistance of $14.79, the NEO crypto must maintain the current rate of accumulation. NEO price has gained 3.78% in a week and 11.32% in a month. Neo token has surged 72.36% in the last three months and 66.58% in the last six months. Technical indicators suggest strong upward momentum of NEO crypto over the daily time frame chart.
Technical Levels
Resistance Level: $13.30 and $14.80
Support Level: $11.72 and $9.20
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/04/14/neo-price-prediction-will-neo-crypto-break-from-here/