- NEO price has recorded an increase of 5.65% today; the coin was steadily surging since yesterday
- The coin has formed a minor price dip below $12 recently as part of a price pullback
- Yesterday’s bearish trendline has been breached while technical indicators are also in a positive zone
- NEO is apparently responding to BTC’s mild bullish price moves
Bitcoin is continuing its uptrend at a very slow pace as it is still below $9000. Notably, BTC is trading in the price range of $8506 to $8918 for around the last 6 days. Meanwhile, NEO has been tumbling for the better part of yesterday.
NEO Price Analysis
Yesterday’s opening price of NEO was $11.97 and from there, it was trading with a bearish approach. The coin formed lower highs initially and after seeing resistance at $11.96, it took a steep pullback.
NEO bottomed to $11.43 before starting the rebound and after a while, it halted the falling trendline. From here, the coin slowly uplifted and consolidated between the 100% and 61.80% Fib levels.
Today, it has sharply surged and even went a little above $12, however, after corrections it is ranging around $11.85. At 05:17:34 UTC, the NEO price is $12.03.
The coin is well above the 200-day EMA line and is still heading upwards noting a positive sign. RSI is nearing the over-bought phase and it is at 64. Also, MACD is in the bullish zone with its MACD line on the upside.
The coin is currently between 0% and 38.20% Fib levels while Bollinger bands are indicating a volatile phase.