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Neo price analysis: NEO crashes to $10.65

Neo price analysis: NEO crashes to $10.65
TL;DR Breakdown
    • NEO price analysis is bearish today.
    • Strongest resistance is present at $15.16.
    • NEO trades at $10.67 right now.

NEO price analysis has revealed the cryptocurrency market to maintain a partial bearish momentum with strong conservation possibilities as the price moves steadily upwards. For example, the NEO/USD price recently crashed to a considerable decline on May 26, 2022, and The price went from $12.20 to $10.53 in no time. However, the next day the price shifted to an upwards trend rising the price to $10.65 and continuing an upward movement on May 26, 2022.

NEO has been down 7.51% in the last 24-hours with a trading volume of $118,570,232. Neo currently ranks at #64, with a live market cap of $751,532,890.

NEO/USD 4-hour price analysis: Latest developments

NEO price analysis reveals the market’s volatility to be following a slightly decreasing 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 $12.23, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at 10.55, 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 bearish movement. The market trend has recently entered the bearish territory in the last couple of hours. Since the market volatility appears to be following an upward direction, the trend will likely shift in bullish favor and increases the price of NEO.

image 495
NEO/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 41, signifying a stable value for NEO. Fortunately, this means that the cryptocurrency falls in the lower neutral region. However, the RSI path can be seen following an upward movement indicating that the cryptocurrency will experience increasing value and may soon enter the bullish category, which will result in complete stability for the cryptocurrency.

NEO price analysis for 1-day: NEO/USD market closes

NEO price analysis indicates that the market’s volatility appears to be following a closing 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 $15.16, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $7.79, 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 movement, indicating a decreasing market for NEO. The market appears to move towards the support band, which is also following an upwards movement. If they meet, the market could break and cause a reversal.

image 496
NEO/USD 1-day price chart source: TradingView

NEO price analysis shows that the Relative Strength Index (RSI) is 37, signifying an undervalued sign for NEO. Unfortunately, this means that the cryptocurrency falls in the underbought region. However, the RSI path can be seen following a decreasing movement indicating that the cryptocurrency is experiencing value declines and dominant selling activity.

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 strong upward trend with the possibility of maintaining its energy and keeping the market. NEO/USD climbed with fatigue at the $10.8 mark; the price reached $10.50 on May 26, 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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