Neo price analysis: NEO crashes to $20.25

NEO

TL;DR Breakdown

  • NEO price analysis appears to be bearish.
  • The strongest resistance is present at $29.69.
  • The trading price of NEO is $20.25.

NEO price analysis has revealed the NEO market to have bearish momentum with further depreciating potential because of the way the price has suddenly started to decline. However, the market appears to be completely broken, so there may be room for a reversal as well. For example, the NEO/USD price recently experienced a vast downward direction just before shifting on April 10, 2022, and the price went from $22 to $21.23 in no time. Today, the price further obtained a downward movement and went from $21.23 to $20.25.

The price appears to continue the declining movement; the cost of Neo has been down 8.34% in the last 24-hours, with a trading volume of $121,361,372 and a live market cap of $1,424,849,176. Neo currently ranks at #66 in the cryptocurrency rankings.

NEO/USD 4-hour price chart: Recent developments

The Neo price analysis reveals the market’s volatility to be following an increasing trend, meaning that the price of NEO/USD is becoming more prone to experience variable change. The upper limit of the Bollinger’s band is present at $23.42, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $20.84, which serves as another resistance point for NEO.

The NEO/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. The market trend has just recently shifted, and it seems that this will be a hard few days for NEO. As a result, the price appears to move downwards, signifying a declining market and depreciation of the cryptocurrency value. The market seems to be broken, illustrating substantial reversal opportunities.

Neo price analysis: NEO crashes to $20.25 1
NEO/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 26, signifying a meager value for NEO. The cryptocurrency shows depreciating dynamics. As a result, the cryptocurrency falls in the undervalued region. However, the RSI path follows a downward movement indicating that the cryptocurrency will experience decreased value. The declining RSI score indicates dominant selling activity.

Neo price analysis for 1-day: The market breaks completely

The NEO price analysis indicates that the market’s volatility appears to be following an increasing trend, meaning that the market shows massive signs of increasing volatility. This will result in a more volatile price for NEO. The upper limit of the Bollinger’s band is present at $29.69, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $20.28, which serves as another resistance point for NEO.

The NEO/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. However, the price path can be seen following a downward direction, indicating depreciating dynamics.

Neo price analysis: NEO crashes to $20.25 2
NEO/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 37, signifying an undervalued NEO stock. This means that the cryptocurrency shows declining characteristics. However, the RSI path follows a downward movement indicating that the cryptocurrency will experience decreased value, signifying dominant selling activity.

NEO Price Analysis Conclusion

The NEO price analysis’s conclusion shows that the cryptocurrency’s current behavior indicates that it is following a strong downwards trend with the possibility of shifting to bullish favor as the market completely breaks. NEO/USD climbed with fatigue at the $23 mark; the price reached $22.79 on April 11, 2022.

Chart analysis shows bearish dynamics with room for further reversal. However, the market shows reversal possibilities as the market breaks; this could signal future stability.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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