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Neo price analysis: NEO gains value at $10.56

Neo price analysis: NEO gains value at $10.56
TL;DR Breakdown
  • NEO price analysis is bearish today.
  • Strongest resistance is present at $$12.47.
  • NEO trades at $10.56 at the time of writing.

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 28, 2022, and The price went from $10.58 to $10.11 in no time. However, the next day the price shifted to an upwards trend rising the price to $10.56 and continuing an upward movement on May 29, 2022.

NEO has been down 0.44% in the last 24-hours with a trading volume of $64,172,834. Neo currently ranks at #63, with a live market cap of $738,061,365.

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 $11.03, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $10.13, 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. Since the market volatility appears to be following an upward direction, the trend will likely have more room to move towards either extreme. It seems the bullish era might stay for a long time.

image 571
NEO/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 46, 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 upwards movement indicating that the cryptocurrency will experience increased value and may soon enter the stable category, which will result in complete stability for the cryptocurrency.

NEO price analysis for 1-day: NEO/USD gains tremendous value

NEO price analysis indicates that the market’s volatility appears to be following a decreasing trend, meaning that the market shows more signals towards experiencing volatile change. This will result in a less variable price for NEO. The upper limit of the Bollinger’s band is present at $12.47, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $9.06, 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 an upward movement, indicating an increasing market for cryptocurrency.

image 570
NEO/USD 1-day price chart source: TradingView

NEO price analysis reveals that the Relative Strength Index (RSI) is 37, signifying a stable value for NEO. Fortunately, this means that the cryptocurrency falls into an undervalued region. However, the RSI path can be seen following an upward movement indicating that the cryptocurrency is experiencing increasing value. The RSI appears to follow an upwards movement due to its overextended stay in the undervalued 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 strong upward trend with the possibility of maintaining its energy and keeping the market. NEO/USD climbed with fatigue at the $10.60 mark; the price reached $12.56 on May 29, 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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