1. BITBILIHome
  2. Article

NEO price analysis: NEO bulls overcome the $10.71 barrier with a strong push, gaining 10 percent

• 142 views

TL;DR Breakdown

  • The market is going in the support of buyers.
  • NEO price analysis shows price levels rising up to $10.88.
  • Strong support is present at $10.17, to be precise.

The NEO price analysis highlights a favorable buying momentum, with the current price reaching $10.88. Over the past few hours, the bulls have generally enjoyed a positive market environment, despite some selling pressure being present. Notably, the coin has successfully surpassed the resistance level at $10.71, indicating a promising outlook. Looking ahead, there is a strong likelihood of the bulls maintaining control of the cryptocurrency market in the upcoming weeks.

NEO/USD 1-day price chart: Highly positive market sentiment is reflected on the chart

For the NEO price analysis, if we look at the daily candlestick chart, it shows cryptocurrency values are going in favor of buyers, with the price rising to $10.88. The past two weeks have proved to be suitable for NEO price growth, with buyers flooding the market. The moving average in the daily chart is showing us the value at $10.04; meanwhile, the volatility is gradually increasing for the bulls as the coin has already gained more than a marvelous 10 percent value today.

neo1latNEO price analysis: NEO bulls overcome the .71 barrier with a strong push, gaining 10 percent
NEO/USD 24-hour price chart. Source: Tradingview

The average of Bollinger bands has reached the figure of $9.65, with its upper and lower strands resting at $10.71 and $8.59, respectively, as they now represent the nearest and strongest supports. The Relative Strength Index (RSI) value is 59, which is a good benchmark for NEO market value as the buying process is progressing.

NEO price analysis: Recent developments and further technical indications

The latest NEO price analysis shows the dominance of green candlesticks with slight resistance from the red ones. Yet, the latest chart continues to show bullish momentum, with the price approaching $10.88 for the second day today. The average of Bollinger bands is set at $10.07 at the time of writing.

The short-term trend line is moving upward, and the SMA 20 curve is also moving upward, indicating a bullish uphold. The moving average indicator is displaying a value of $10.38, which is the highest value achieved in the past 24 hours.

neo4lkcNEO price analysis: NEO bulls overcome the .71 barrier with a strong push, gaining 10 percent
NEO/USD 4-hour price chart. Source: Tradingview

The RSI score is right now 71, which is evidently a higher score, hinting at the fact that the coin is currently overvalued. The indicator can give a sell call at any time. The volatility seems to be increasing as the Bollinger bands are expanding in favor of the higher price oscillations and predicting high price fluctuations in the coming hours.

NEO price analysis Conclusion

From the given NEO price analysis, we can say that the bulls seem to be taking over the cryptocurrency with a steep rise in price. This rise may take the current price levels higher and reach a new high above the $10.90 resistance. The RSI score as detected from the hourly chart is 71, which has crossed the overbought threshold set for the coin value.

This is affirming the upcoming rise in the price if the support level continues to increase as well. The resistance level at $11.29 can be challenged if the buying momentum remains persistent.

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.

文章来源于互联网:NEO price analysis: NEO bulls overcome the $10.71 barrier with a strong push, gaining 10 percent

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月30日 18:43
Next 2023年5月30日 20:34

Related articles

  • What is the future of BRICS amid China’s nosediving economy?

    TL;DR Breakdown China’s economic woes trigger global worries about the stability of BRICS and how the crash of the Chinese market stands to affect de-dollarization. China’s President, Xi Jinping, informed the BRICS group that the country’s economy was resilient and its commitment to the future remained unchanged. China continues to suffer the effects of COVID-19 more greatly than any other nation in the world. Description As we navigate the complexities of the global economy in the 21st century, few international groups capture as much attention as BRICS—a coalition of emerging economies comprising Brazil, Russia, India, China, and South Africa. Historically considered a symbol of shifting power dynamics, BRICS nations have sought to redefine their role in global governance, finance, and … Read more As we navigate the complexities of the global economy in the 21st century, few international groups capture as much attention as BRICS—a coalition of emerging economies comprising Brazil, Russia, India, China, and South Africa. Historically considered a symbol of shifting power dynamics, BRICS nations have sought to redefine their role in global governance, finance, and development.  However,…

    Article 2023年9月9日

  • UBS CEO is confident about his company’s future

    TL;DR Breakdown UBS CEO Sergio Ermotti aims to bolster confidence in his company following the historic acquisition of Credit Suisse. Ermotti acknowledges UBS’s large size but highlights its business model’s role in generating Swiss wealth. The merger forms a banking giant with a combined balance sheet of $1.6 trillion and a workforce of 120,000. Description The Swiss banking industry is on the precipice of a significant transformation as UBS, one of the country’s banking giants, seals its historical acquisition of former competitor, Credit Suisse. In the wake of the deal, UBS CEO Sergio Ermotti took it upon himself to bolster confidence in his organization and reassure Swiss stakeholders of its … Read more The Swiss banking industry is on the precipice of a significant transformation as UBS, one of the country’s banking giants, seals its historical acquisition of former competitor, Credit Suisse. In the wake of the deal, UBS CEO Sergio Ermotti took it upon himself to bolster confidence in his organization and reassure Swiss stakeholders of its promising future. UBS: A shining beacon of prosperity Ermotti, who reassumed his…

    Article 2023年6月20日

  • U.S. Lawmakers push for a new bill to hold bank executives accountable for collapses

    TL;DR Breakdown Democrats from the United States House Financial Services Committee have introduced a series of bills, which they described as the “first wave” of legislation in an effort to address failures at major banks.  The legislation includes various provisions, such as the imposition of fines and a ban on bank executives from future work in the industry if they are found to have negligently contributed to their bank’s failure. The proposed bills also seek to grant regulators the authority to prohibit bank executives from selling stock under certain circumstances. Description In an effort to address failures at major banks, Democrats from the United States House Financial Services Committee have introduced a series of bills, which they described as the “first wave” of legislation. The proposed measures are a response to the collapses of Silicon Valley Bank, Signature Bank, and First Republic Bank in the United … Read more In an effort to address failures at major banks, Democrats from the United States House Financial Services Committee have introduced a series of bills, which they described as the “first wave”…

    Article 2023年6月24日

  • Optimism announces private sale of $160M in OP tokens to select buyers

    TL;DR Breakdown Optimism is conducting a private sale of 116 million OP tokens to seven select buyers, ensuring market stability by sourcing from the unallocated treasury and imposing a two-year lockup period. This move aligns with Optimism’s pre-set plans and follows their recent announcement of a third airdrop, underlining their active engagement and growth in the crypto landscape. Description In a noteworthy development, the Ethereum layer-2 scaling solution, Optimism, recently declared its intention to orchestrate a private sale of a staggering 116 million OP tokens to a select group of seven buyers. The intent behind this move is primarily focused on treasury management. The impending transaction, valued at approximately $159 million considering the current … Read more In a noteworthy development, the Ethereum layer-2 scaling solution, Optimism, recently declared its intention to orchestrate a private sale of a staggering 116 million OP tokens to a select group of seven buyers. The intent behind this move is primarily focused on treasury management. The impending transaction, valued at approximately $159 million considering the current token prices, marks an intriguing turn in the…

    Article 2023年9月22日

  • Robinhood unleashes game-changing UK strategy

    TL;DR Breakdown Robinhood has appointed Jordan Sinclair, a former executive from Barclays, as the new CEO to oversee its operations in the UK. Despite regulatory challenges in the US, the Company remains a significant player in the cryptocurrency trading space, and its expansion to the UK represents a strategic move to tap into new markets and widen its user base.  Description Robinhood, the popular cryptocurrency-friendly trading platform, is making significant strides in expanding its services to the United Kingdom. To facilitate this move, the company has appointed Jordan Sinclair, a former executive from Barclays, as the new CEO to oversee its operations in the UK. The appointment was approved by the Financial Conduct Authority (FCA) on … Read more Robinhood, the popular cryptocurrency-friendly trading platform, is making significant strides in expanding its services to the United Kingdom. To facilitate this move, the company has appointed Jordan Sinclair, a former executive from Barclays, as the new CEO to oversee its operations in the UK. The appointment was approved by the Financial Conduct Authority (FCA) on July 18. Jordan Sinclair brings with…

    Article 2023年7月26日
TOP