Neo price analysis shows that cryptocurrency is currently in a bullish trend. The market looks poised for further gains in the short term. The market is currently trading at $9.17 and is showing signs of further bullish momentum. The next level of resistance is seen at $9.22. A break above this level could see NEO prices move higher towards $9.30. Support is seen at $9.07 and a break below this level could see NEO prices retrace towards $8.90.
The digital asset NEO has had a good run in the past week as it surged by over 11%. Today NEO price has increased by over 0.63 percent. The market cap for NEO currently stands at $647 million and the 24-hour trading volume is at $24 million.
NEO/USD 1-day price chart: Price levels up to $9.17, bulls manage to penetrate
Neo price analysis one-day price chart bulls are trying to overcome the bearish pressure and have succeeded so far in their struggle as the prices increased today. The past week has been mostly bearish for NEO as it corrected lower from highs around $10.40 to lows near $9. The market has since found some support and has started to move higher. The bulls will now be looking to build on this momentum and push prices higher toward the $9.30 level.
The 50-day moving average has started to cross over the 200-day moving average, which is a bullish sign. The RSI indicator is currently at 54, which shows that there is room for further upside in NEO prices. The Bollinger Bands show that NEO prices are currently trading in the middle of the range, which is a neutral sign.
Neo price analysis on a 4-hour price chart: NEO/USD set to break out higher
The 4-hour Neo price analysis shows bulls are trying to push prices higher, but are facing some resistance at the $9.22 level. Buyers will now be looking to break above this level to push prices towards the $9.30 level.
The upper Bollinger bands are currently close to the $9.22 level, which suggests that there is some room for further upside in NEO prices. The lower Bollinger band is currently at $8.90, which is a key support level. The RSI indicator is currently above 50, which shows that the bulls are in control of the market. The 50 MA and 200 MA are both trending higher, which is a bullish sign.
Neo price analysis conclusion
Neo price analysis shows that the market is currently in a bullish trend and is poised for further gains in the short term. From a technical standpoint, Neo price analysis shows that the digital asset has broken out of a descending triangle pattern, which is a bullish sign. The breakout has occurred with good volume, which is another bullish sign.
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Source: https://www.cryptopolitan.com/neo-price-analysis-2022-09-04/