TL;DR Breakdown
- The latest Neo price analysis is indicating bullish signals.
- Price has increased as it is now at $38.43.
- Support is sufficiently strong at the $33.6 level.
The Neo price has been rising lately, which is a good sign for traders who believe in the long-term success of the currency. The bulls are presently attempting to reclaim lost ground, according to the most recent Neo price analysis. Last week was disastrous for cryptocurrency values as the bears took control and dominated all aspects of life. Green candlesticks have now become much more frequent, thanks to the latest bullish momentum.
NEO/USD 1-day price chart: Price levels up to $38.43 as bulls manage to penetrate
The bulls are trying to overcome the bearish pressure and have succeeded so far in their struggle as the price has increased today. The past week has been under bearish control as the price moved down to dangerous levels. Yet, today the bulls have tackled the situation and taken the price to $38.43. According to the one-day price analysis, the moving average (MA) value is still at a higher level than the price, as it is at $39.31.
NEO/USD 1-day price chart. Source: TradingView
The volatility has increased during the day, which means that the price might go down in the future. Meanwhile, the Bollinger band values are found to stand at the following levels; the upper value is $56, whereas the lower value is $33.6. The Relative Strength Index (RSI) score is now 39.5 because of the price rise.
Neo price analysis: Price stabilized above $38.4 as the upturn remains consistent
The 4-hours Neo price analysis shows the bulls at the lead as the trending line is constantly moving upwards. The bullish momentum is gaining stability as the price has been above $37 steadily. The price has climbed up to $38.43 during the last four hours and is quite close to breaking the resistance as well. The moving average is quite low if we compare it to the price, as it is present at $37.21 at writing.
The volatility has decreased significantly, so the Bollinger bands average is now at $38.03. The other Bollinger band values are as such; the upper Bollinger band is at $40.08, whereas the lower Bollinger band is at $35.98. The RSI is showing signs of improvement as well as the score is now at 50.
The Technical Indicators chart for NEO/USD is giving strong bearish signals because of the downtrend that followed in the past week. 14 indicators are on the selling mark, while three are on the buying and nine are n the neutral positions.
Although the price has improved today, the overall trend that has been observed during the past week has been bearish. This is why the moving averages indicator also gives a selling signal with 13 indicators on the selling position, one on the neutral, and another on the buying positions. On the other hand, the Oscillators are going neutral because eight oscillators are on the neutral level, two on the buying level, and one is on the selling level.
Neo Price Analysis: Conclusion
According to Neo price analysis, there has been a rise in today’s price as the bulls are trying to situate themselves on the price charts. The NEO/USD price is now at the $38.43 level, encouraging the buyers. The bulls have been able to break through the outgrowing bearish momentum by availing the chance at hand.
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