NEO Is in a Fresh Uptrend, Poises to Reclaim $78

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Neo Key Highlights as It Poises To Reclaim $78

  • NEO declines to $54 support and resumNEOes upward
  • NEO has a target price of $78
  • NEO battles to break the resistance levels of $57 and $60

NEO Current Statistics as It Poises To Reclaim $78

The current price: $56.16
Market Capitalization:$5,624,334,676
Trading Volume: $646,322,968
Major supply zones: $60, $70, $80
Major demand zones: $40, $30, $20

NEO Price Long-Term Prediction: Bullish

On August 24, NEO/USD reached the high of $63 but faces strong rejection as it poises to reclaim $78.The market declined to $54 low and resumes upward. The current uptrend will resume if price finds support above the previous low. The current bullish move has earlier broken the resistance at levels $57 and $60. However, the recent downtrend has made crypto fall back to the previous low. On the upside, buyers have an uphill task by breaking the resistance at $57 and $60. After the retracement, there are bullish candlesticks as buyers attempt to resume upward. The bulls are yet to break above the initial resistance at $57. On the downside, if the selling pressure resumes and breaks below $53 support, the market will further decline to $49.50. Meanwhile, the selling has ended as the market resumes upward.

NEO Is in a Fresh Uptrend, Poises to Reclaim $78
NEO/USD – Daily Chart

NEO Indicator Analysis

NEO is at level 60 of the Relative Strength Index period 14.The crypto is in the bullish trend zone and capable of rising on the upside. The crypto’s price is above the 21-day SMA and the 50-day SMA which suggests a further rise of the crypto. The altcoin is above the 25% range of the daily stochastic. The market is rising as it is in a bullish momentum.

What Is the Next Move for NEO as It Poises To Reclaim $78

NEO/USD has resumed upward move as it poises to reclaim $78. According to the Fibonacci tool, NEO is likely to further move up. Meanwhile, on the August 24 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that NEO will rise to level 2.618 Fibonacci extension or level $78.28.

NEO/USD – 4 Hour Chart

Also read:  NEO Cryptocurrency Review – What are NEO Advantages?

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