NEO battles the resistance at $48 as it holds above $46
NEO/USD targets the $63 high as it holds above $46
NEO Current Statistics
The current price: $46.43
Trading Volume: $595,168,600
Major supply zones: $60, $70, $80
Major demand zones: $40, $30, $20
NEO Price Long-Term Prediction: Bullish
Presently, NEO is trading in the bullish trend zone as it holds above $46. In the first uptrend, the altcoin rallied to a high of $48.45 but was repelled. The altcoin retraced to $40 low and resumed upward. Buyers are retesting the resistance to break it. On the upside, if the bulls break the recent high, the market will rally to $54.
Meanwhile, on July 31 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that NEO will rise but reverse at level 1.272 Fibonacci extension or level $54.90. From the price action, the crypto is yet to break the resistance at $48. The breakout will propel the upward move.
NEO Indicator Analysis – It Holds Above $46
NEO is at level 67 of the Relative Strength Index period 14. The market is approaching the overbought region at level 70. In the overbought region, sellers will emerge to push prices down. The altcoin has a bullish crossover. The 21-day crosses above the 50-day SMA which indicates a buy signal.NEO is below the 80% range of the daily stochastic. The coin is in a bearish momentum and capable of falling on the downside.
What Is the Next Move for NEO?
NEO /USD upward move is facing rejection at the recent high as it holds above $46. Meanwhile, on July 31 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that NEO will rise to level 2.0 Fibonacci extension or level $63.12.
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