Price Analysis

NEO Price Analysis: NEO Possesses an Upward Trend, Though Fails to Stay Above $10

  • NEO has just crossed $10 again, the technical picture shows positive signs
  • The coin has recently formed support at $9.80, moving up from there
  • NEO bulls reached as high as $10.11 yesterday, later formed a bearish trendline
  • NEO saw a rejection above $10.11 and then pulled back

Since the later part of yesterday, NEO has been trading a bullish uptrend against U.S.Dollar. Today the coin has seen a dip near $9.80 but has again surged above $10. The thing to be noticed is that how long will the coin sustain.

NEO price was well below $10 till yesterday morning. The coin jumped above $10 at 10:27 UTC, and it managed to surge as high as $10.11. After that, the coin could not trade above it and it pulled back to $9.51. NEO price kept ranging between $9.93 to $10.10 before dropping to its closing price of $9.88.

Today morning, the coin extended the drop a bit and it reached $9.8066 where NEO found its support level. The coin corrected up a bit to $9.93 before striking a strong surge to $10.10 at 07:01:41 UTC.

NEO/USD Price Chart

NEO Price Chart
NEO Price Chart

NEO’s current price is still below its 50-day SMA of $12.70, though, it is just above its 5-day SMA. The short-term SMA line of the coin is above its long-term SMA at the moment, indicating bullish price move. MACD chart also confirms the same. However, the coin is still under the selling pressure.

NEO Price Prediction & Technical Indicators:

MACD chart of NEO is moderately volatile and is in the bullish zone with its MACD line above its signal line. RSI for the coin is above 75 showing a strong overbought phase. NEO may face resistance at $10.33 and support st $9.35.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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