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Neo price analysis: NEO stable at $21.04 after bearish run

NEO

TL;DR Breakdown

  • NEO price analysis appears to be bearish.
  • The strongest resistance is present at $30.
  • The trading price of NEO is $21.08.

NEO price analysis has revealed the NEO market to have a complete bearish momentum with room for further bearish potential because of the way the price has suddenly stopped moving. However, the NEO/USD price recently experienced a vast downward crash just before shifting on April 21, 2022, and the price went from $22.46 to $20.62 in no time. The price regained some of its lost value and upward movement from $20.67 to $21.04 today, April 23, 2022.

The price appears to continue the declining movement; the cost of Neo has been down 0.46% in the last 24-hours, with a trading volume of $113,642,791 and a live market cap of $1,482,217,941. Neo currently ranks at #64 in the cryptocurrency rankings.

NEO/USD 4-hour price chart: Recent developments

The Neo price analysis reveals the market’s volatility to be following a declining trend. As a result, the price of NEO/USD is becoming less susceptible to experiencing variable change; the price will remain constant until the volatility fluctuates. The upper limit of the Bollinger’s band is present at $22.24, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $20.55, which serves as the strongest support point for NEO.

The NEO/USD price appears to be crossing under the curve of the Moving Average, signifying a bullish movement. However, the market trend has remained bearish for a long time, and it seems that this will be a hard few days for NEO. As a result, the price appears to move linearly, anchoring itself to its current position, signifying a stable market and consistency of the cryptocurrency value.

Neo price analysis: NEO stable at $21.04 after bearish run 1
NEO/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 45, signifying a stable value for NEO. The cryptocurrency shows increasing dynamics. As a result, the cryptocurrency falls in the lower neutral region. However, the RSI path follows a slight upward movement indicating that the cryptocurrency will experience increased value. The increasing RSI score indicates dominant buying activity.

Neo price analysis for 1-day: Market closes

The NEO price analysis indicates that the market’s volatility appears to be following a colossal decreasing trend, meaning that the market shows decreasing signs of volatile change on either extreme. This will result in a less volatile price for NEO. The upper limit of the Bollinger’s band is present at $25.35, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $18.42, 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 downward direction, indicating decreasing dynamics.

Neo price analysis: NEO stable at $21.04 after bearish run 2
NEO/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 44, signifying a stable NEO stock. This means that the cryptocurrency shows stable characteristics. However, the RSI path follows a linear movement indicating that the cryptocurrency will experience consistent value until the RSI score fluctuates, signifying equivalence of selling and buying activities.

NEO Price Analysis Conclusion

The NEO price analysis’s conclusion shows that the cryptocurrency’s current behavior indicates that it has shifted to a dormant trend with the possibility of moving to either extreme as the market shows massive, unpredictable potential. NEO/USD climbed with fatigue at the $22.80 mark; the price reached $22.63 on April 21, 2022.

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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