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Neo price analysis: NEO/USD regains bullish momentum, spikes above $11.51

Neo price analysis
TL;DR Breakdown
  • Neo price analysis shows a bullish trend
  • NEO/USD support is present at $10.50
  • Neo price is facing resistance at $11.95
image 467
Cryptocurrencies price heatmap, Source: Coin360

Neo price analysis shows that Neo prices are currently in a bullish trend as the price goes above $11.51. The support is present at $10.50, and the price is facing resistance at $11.95. A breakout above this resistance can take the prices to $13.19 levels, while a breakdown can take the prices to $9.23 levels.

The digital asset is currently trading at $11.51, and it has gained 1.5 percent in the last 24 hours. The market capitalization of the asset currently stands at $809,381,740, and the trading volume in the last 24 hours is $114,070,188

NEO/USD 1-day price chart: Price levels up to $11.51, bulls manage to penetrate

Neo price analysis one-day price chart bulls are trying to overcome the bearish pressure and have succeeded so far in their struggle as the prices increased today. The past week has been mostly bearish for NEO as it corrected lower from highs around $ 12.60, but the price found support near the $10.50 mark. However, the bulls have managed to make a comeback and push the prices higher. The support is present at $10.50 levels, and the resistance is present at $11.95 levels.

image 470
NEO/USD 1-day price chart, Source: TradingView

The MACD shows that the bullish momentum is increasing as the MACD line (blue) crosses above the signal line. The RSI indicator is currently at 52 levels, which shows that the prices are in the middle of the buying and selling pressure. The Bollinger Bands show that the prices are currently trading near the upper band, which indicates that the prices might face some selling pressure at higher levels.

Neo price analysis on a 4-hour price chart: NEO/USD set to break out higher

The 4-hour price analysis shows bulls are trying to push prices higher, but they face some resistance near the $11.95.This encourages buyers to remain cautious until there is a breakout and close (UTC time frame) above the $10.50 resistance, the immediate support on the downside is near the $11.51 level.

image 468
NEO/USD 4-hour price chart, Source: TradingView

The MACD is above the neutral zone, which indicates that the bulls have the upper hand. The RSI indicator is currently at 54 levels, which shows that the prices are in the middle of the buying and selling pressure. Bollinger Bands is above the middle line, which indicates that the prices might face some selling pressure at higher levels.

Neo price analysis conclusion

To conclude, Neo price analysis, there has been a rise in today’s price as the bulls are trying to situate themselves on the price chart.NEO/USD price is now at the $11.51 level, encouraging the buyers. From a technical standpoint, Neo price analysis shows that the digital asset has broken out of a descending triangle pattern, which is a bullish sign. The breakout has occurred with good volume, which is another bullish sign.

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.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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