Neo price analysis: NEO depreciates to $21.08 after a bearish run

TL;DR Breakdown

• NEO price analysis appears to be bearish.
• The strongest resistance is present at $30.
• The trading price of NEO is $21.08.

NEO price analysis has revealed the NEO market to have partial bearish momentum with room for bullish potential because of the way the price has suddenly started to move upwards. For example, the NEO/USD price recently experienced a vast upward direction just before shifting on April 14, 2022, and the price went from $20.42 to $21.51 in no time. The price further obtained a downward movement and went from $21.51 to $21.08.

The price appears to continue the declining movement; the cost of Neo has been up 3.44% in the last 24-hours, with a trading volume of $107,672,415 and a live market cap of $1,496,833,365. Neo currently ranks at #66 in the cryptocurrency rankings.

NEO/USD 4-hour price chart: Recent developments

The Neo price analysis reveals the market’s volatility to be following a dormant trend. The price of NEO/USD is becoming resistant to experiencing variable change; the price will remain constant until the volatility fluctuates. The upper limit of the Bollinger’s band is present at $21.70, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $19, 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 just recently shifted, and it seems that this will be a hard few days for NEO. As a result, the price appears to move downwards, signifying a declining market and depreciation of the cryptocurrency value. The market appears to lose all positive momentum hour by hour, and if this keeps up, the cryptocurrency will attain undervalued dynamics.

The Relative Strength Index (RSI) is 48, signifying a stable value for NEO. The cryptocurrency shows depreciating dynamics. As a result, the cryptocurrency falls in the undervalued region. However, the RSI path follows a downward movement indicating that the cryptocurrency will experience decreased value. The declining RSI score indicates dominant selling activity.

Neo price analysis for 1-day: The opens up

The NEO price analysis indicates that the market’s volatility appears to be following a colossal increasing trend, meaning that the market shows massive signs of increasing volatility. This will result in a more volatile price for NEO. The upper limit of the Bollinger’s band is present at $30.1, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $18, 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 direction, indicating increasing dynamics.

The Relative Strength Index (RSI) is 41, signifying a stable NEO stock. This means that the cryptocurrency shows stable characteristics. However, the RSI path follows a linear movement indicating that the cryptocurrency will experience consistent value until the RSI score fluctuates, signifying equivalence of selling and buying activities.

NEO Price Analysis Conclusion

The NEO price analysis’s conclusion shows that the cryptocurrency’s current behavior indicates that it has shifted to a strong upward trend with the possibility of shifting to a full bullish favor as the market shows massive upside potential. NEO/USD climbed with fatigue at the $21.50 mark; the price reached $21.51 on April 14, 2022.

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.

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• Source: https://www.cryptopolitan.com/neo-price-analysis-2022-04-14/