- NEO Price has returned back inside the consolidation phase over the daily price chart.
- NEO crypto has fallen below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of NEO/BTC is at 0.0004357 BTC with an intraday gain of 0.23%.
The neo price is being driven by the striking patterns on the daily price chart. The token originally took the shape of a falling wedge before breaking toward the lower levels. After that, the token is successful in eluding the collapsing wedge above the daily chart. Following its escape from the collapsing wedge, NEO currency is now trapped in the consolidation phase over the chart. The price motion of the NEO coin is seen consolidating after breaking out of the falling trend. The enormous cryptocurrency Bitcoin has now risen to a level of $20,000, and other cryptocurrencies like NEO have started their own recovery processes. As a result, the token is still bullish.
Neo’s estimated price is currently $8.40, and its market capitalization rose by 1.75% the day before. The volume of trades decreased marginally (12.43%) during intraday trading. This demonstrates that NEO is under pressure from short sellers. At the present, NEO is thriving with a definite rising momentum and receiving support from purchasers. Volume to market cap ratio is 0.06558.
The NEO currency price is currently striving to hold close to the consolidation phase after successfully rising above the consolidation phase. The token must keep attracting buyers in order to keep its value where it is. The volume change is now below average and needs to rise to support NEO. The cost of NEO has been holding steady between $7.82 and $10.35.
What do Technical Indicators suggest about NEO?
To get out of the consolidation period, the NEO coin is striving to hold at its current price. The token must successfully maintain the current upward momentum throughout the trading session to avoid getting trapped inside the range once more. Technical indicators on the daily price chart suggest that the NEO currency will continue to rise sharply.
The NEO coin’s upward momentum is displayed by the relative strength index. At 39, the RSI is approaching neutrality. The NEO coin’s negative momentum is visible in MACD. After a negative crossover, the MACD line is below the signal line.
Conclusion
The neo price is being driven by the striking patterns on the daily price chart. The token originally took the shape of a falling wedge before breaking toward the lower levels. After that, the token is successful in eluding the collapsing wedge above the daily chart. Following its escape from the collapsing wedge, NEO currency is now trapped in the consolidation phase over the chart. The price motion of the NEO coin is seen consolidating after breaking out of the falling trend. The volume change is now below average and needs to rise to support NEO. The cost of NEO has been holding steady between $7.82 and $10.35. Technical indicators on the daily price chart suggest that the NEO currency will continue to rise sharply.
Technical Levels
Support Levels: $8.00 and $7.75
Resistance Levels: $9.00 and $10.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
