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Neo price analysis: NEO spikes towards $12.9 after strong bullish run

Neo price analysis: NEO spikes towards $12.9 after strong bullish run

TL;DR Breakdown

  • NEO price analysis is bullish today.
  • The strongest support is present at $10.32.
  • NEO trading price is $12.93 at the time of wriring.

NEO price analysis has revealed the cryptocurrency market to show strong bullish momentum with strong conservation possibilities as the price moves steadily upwards. For example, the NEO/USD price recently spiked to a considerable decline on June 5, 2022, and The price went from $11.12 to $11.96 in no time. As a result, the next day, the price continued to an upwards trend, rising to $12.9 and continuing an upward movement today on June 6, 2022.

NEO has been up 11.02% in the last 24-hours with a trading volume of $179,463,339. Neo currently ranks at #61, with a live market cap of $910,802,229.

NEO/USD 4-hour price analysis: Latest developments

NEO price analysis reveals the market’s volatility to be following a massive increasing trend, meaning that the price of NEO/USD is becoming more prone to experience variable change. The upper limit of the Bollinger’s band is present at $12.76, which serves as a support point for NEO. Conversely, the lower limit of the Bollinger’s band is present at $10.32, which serves as another 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. The price seems to have broken the resistance, causing the market to undergo a breakout, which might reverse the momentum of the market in the bears’ favor.

image 120
NEO/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 68, signifying a stable value for NEO. Unfortunately, this means that the cryptocurrency falls in the inflation region. However, the RSI path can be seen following a downwards movement indicating that the cryptocurrency will experience decreased 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 opens the squeeze

NEO price analysis indicates that the market’s volatility appears to be following an increasing 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 $12.42, which serves as a support point for NEO. Conversely, the lower limit of the Bollinger’s band is present at $9.67, which serves as another support point for NEO.

The NEO/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish movement. However, the price path can be seen following an upward movement, indicating an increasing market for cryptocurrency.

image 119
NEO/USD 1-day price chart source: TradingView

NEO price analysis reveals that the Relative Strength Index (RSI) is 55, signifying a stable value for NEO. Fortunately, this means that the cryptocurrency falls into a stable region. However, the RSI path can be seen following an upward movement indicating that the cryptocurrency is experiencing increasing value.

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 $13.5 mark; the price reached $13.35 on June 6, 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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