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Neo price analysis: NEO starts to gain value at $20.51

NEO

TL;DR Breakdown

  • NEO price analysis appears to be bearish.
  • The strongest resistance is present at $30.
  • The strongest support is present at $18.

NEO price analysis has revealed the cryptocurrency market to possess a partial bearish momentum with strong bullish possibilities as the price moves steadily upwards. For example, the NEO/USD price recently spiked to a huge incline on April 12, 2022, and The price went from $19 to $20.73 in no time. The next day the price declined to $19.94 but soon after continued an upward movement and went from $19.94 to $20.51 on the same day, On April 13, 2022.

NEO has been up 1.23% in the last 24-hours with a trading volume of $130,630,804. Neo currently ranks at #63, with a live market cap of $1,451,995,794.

NEO/USD 4-hour price analysis: Latest developments

The NEO price analysis reveals the market’s volatility to be following a declining trend, meaning that the price of NEO/USD is becoming less prone to experience variable change. The upper limit of the Bollinger’s band is present at $22, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $18, which serves as the strongest support point for NEO.

The NEO/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish movement. The market trend has recently entered the bullish territory in the last couple of hours, and since the market appears to become less volatile by the minute, the trend will likely be conserved. It seems the market might enter bullish dominion entirely in the coming hours.

Neo price analysis: NEO starts to gain value at $20.51 1
NEO/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 41, signifying a stable value for NEO. This means that the cryptocurrency falls in the lower neutral region. However, the RSI path can be seen following a linear movement indicating that the cryptocurrency will experience constant value and may remain around that threshold until the RSI score fluctuates. It also suggests that buying activity equals selling activity.

NEO price analysis for 1-day: NEO/USD shifts upward

The NEO price analysis indicates that the market’s volatility appears to be following an increasing trend, meaning that the market shows more signals towards experiencing volatile change. This will result in a more variable price for NEO. The upper limit of the Bollinger’s band is present at $30, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $19, which serves as the strongest support 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 positive direction that indicates an increasing cryptocurrency market.

Neo price analysis: NEO starts to gain value at $20.51 2
NEO/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 39, signifying a relatively stable value for NEO. Unfortunately, this means that the cryptocurrency falls below the lower neutral region. However, the RSI path can be seen following a slight upwards movement indicating that the cryptocurrency will experience increased value, which will result in its entrance into the stability region.

NEO Price Analysis Conclusion

The conclusion of the NEO price analysis shows that the recognition made of the current behavior of the cryptocurrency indicates that it is following a shaky upward trend with the possibility of maintaining its energy and keeping the market. NEO/USD climbed with fatigue at the $20.50 mark; the price reached $20.51 on April 12, 2022. The market shows vital signs of a bullish period for the time being.

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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