Neo price analysis shows that Neo prices are currently in a bullish trend as the price goes above $10.60. The support is present at $9.74, and the price is facing resistance at $10.75. A breakout above this resistance can take the prices to $12 levels.NEO/USD price is currently enjoying a good run, as it has been one of the best-performing, which is a good sign for traders who believe in the potential of this digital asset.
The digital asset is currently trading at $10.60, and it has gained 5.62% in the last 24 hours. The market capitalization of the digital asset is $746,515,135 and the 24-hour trading volume is $73,251,30. 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.
NEO/USD 1-day price chart: Price levels up to $10.60, 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 $ 12.50. The prices found support near the $9.74 level and started an upward move. while resistance is at $10.75
According to the 1-day price analysis, the moving average(MA)value has moved above the candlesticks, which is a bullish sign. The MACD indicator is also in the bullish zone and is gaining momentum. The RSI indicator is near the overbought levels, but there is scope for a further upward move as the prices are well above the MA values.
The 4-hour Neo price analysis shows bulls are trying to push prices higher, but they face some resistance near the $10.75.This encourages buyers to remain cautious until there is a breakout and close (UTC time frame) above the $10.75 resistance, the immediate support on the downside is near the $9.74 level.
On the 4-hour chart, The RSI and MACD on the 4-hour chart suggest that NEO’s price is in a bullish momentum and is likely to continue moving up. The support levels are at $9.74, and the resistance levels are at $10.75.MA’s(50,100 and 200)on the 4- hour chart are placed horizontally, which suggests that the market is in a consolidation phase.
Neo price analysis Conclusion
To conclude, Neo price analysis, there has been a rise in today’s price as the bulls are trying to situate themselves on the price chart.NEO/USD price is now at $10.60level, encouraging the buyers. The bulls have been able to break through the resistance at $1075, but they still need to push through the $11.00level for any significant gains. For the bears, a close below $9.74 could see prices head towards $8 levels again. 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-2022-05-20/