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Neo price analysis: NEO shows signs of recovery at $38.43 after considerable debasement

Neo price analysis NEO shows signs of recovery at after massive breakdown

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 $33.6 level.

The most recent Neo price analysis is hinting at the rise in price as the bulls are trying to make a comeback. The past week has been highly detrimental for the cryptocurrency value as the bears have been at the lead throughout. The trends are reversing again as green candlesticks have positioned themselves on the one-day price chart. The NEO/USD price is now set at $38.43 and is expected to move towards higher levels in the coming days as well.

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 been able to tackle the situation and take the price to $38.43. The moving average (MA) value is still at a higher level than the price, as it is at $39.31 according to the one-day price analysis.

Neo price analysis: NEO shows signs of recovery at $38.43 after considerable debasement 1
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 standing at the following levels; the upper value is at $56 whereas the lower value is at $33.6. The Relative Strength Index (RSI) score is now 39.5 because of the rise in price.

Neo price analysis: Price stabilized above $38.4 as the upturn remains consistent

The 4-hours Neo price analysis is showing 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 at a quite low level if we compare it to the price as it is present at $37.21 at the time of writing.

Neo price analysis: NEO shows signs of recovery at $38.43 after considerable debasement 2
NEO/USD 4-hours price chart. Source: TradingView

The volatility has decreased significantly which is why the Bollinger bands average is now at $38.03. Whereas the other Bollinger band values are as such; the upper Bollinger band is at $40.08 position 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.

Neo price analysis: NEO shows signs of recovery at $38.43 after considerable debasement 3
NEO/USD technical indicators chart. Source: TradingView

The Technical Indicators chart for NEO/USD is giving strong bearish signals because of the downtrend that followed in the past week. There are 14 indicators in total that are on the selling mark, while three indicators are on the buying and nine on 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 is also giving a selling signal with 13 indicators on the selling position, one on the neutral, and another one on the buying positions. The Oscillators, on the other hand, 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 the price recorded today as the bulls are trying to situate themselves on the price charts. The NEO/USD price is now at the $38.43 level which is quite encouraging for the buyers. The bulls have been able to break through the outgrowing bearish momentum, by availing the chance at hand.

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.
Mary Brenda

Mary Brenda

I'm a content marketer with interests in emerging niche including Blockchain, Cryptocurrency, Esports, Video games and other tech. I've previous worked with a variety of clients, such as ASUS ROG, BitcoinBink, ESL India, OMEN by HP, Red Bull and more.

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