- NEO has recently formed a dip at $5.40, and it is now eyeing for a recovery
- Since yesterday, the coin has been trading above $5; it has faced rejection at $5.90
- RSI and MACD are in the bullish zone while moving averages are still showing a negative picture
- On March 13, Neo price has dipped even below $4.80 amid crashed crypto market
Most of the crypto market has severely been hit by the recent bearish pressure on March 13, and now the market is facing a strong downward pull. In this scenario, NEO is also hustling to halt the ongoing price decline.
Neo coin opened yesterday at $5.41, and from here, it has surged for half of the day. The price could reach as high as $5.90, and then it pulled back below $5.5 sharply. As it found a support level there, it again started an uptrend and managed to sustain its recovery till the price reached $5.79.
The currency saw a few downward corrections before it closed at $5.66. Today, the currency has resumed the price fall, and the sharp decline has taken the coin as low as $5.40. Recently, it started price rebound has taken the coin just a bit high as $5.47.
Notably, the Neo price is well below the EMA line and the SMA lines. The short-term SMA line is below the longer one noting a negative price move. RSI and MACD indicators are in the positive zone as RSI is at 48, and MACD is set to enter the bullish area.