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- NEO crypto price is soon aiming to re-test the conceptual round.
- NEO cost remains bullish while the crypto is rising above a bullish trend line.
- Trading volume decreased by 46% in the last 24 hours, registering $18.6 million.
NEO coin is under selling pressure due to continuous selling. Buyers should move ahead to accumulate so that NEO price meets the $10 conceptual round level before any significant decline. Moreover, the NEO coin related to the bitcoin pair is down 0.84% at 0.0004058 satoshis.
Meanwhile, as of press time, the NEO token is trading at $6.86 against the USDT pair. Moving towards the rounding level of $10, the price action of NEO crypto is forming a higher higher-low in the lower time frame. Thus the buyers are aggressive today, therefore, the crypto is priced higher by 2.25%.
On the 4-hour chart, investors of NEO crypto price amass assets with each decrease. The Fibonacci retracement point of 0.618 provides support for the NEO coin price. Buyers submitted purchase orders at the same level as the $6.0 mark. If the cryptocurrency price falls underneath this level, the 0.785 level ($5.5) might serve as a trend turning point.
The hourly RSI is also showing strong bullish emotion, and thus NEO might continue to go bullish towards the philosophically bullish threshold of $10. Furthermore, the $6.0 zone in NEO currency is due for a surge. However, trade volume fell 46% in the past 24 hours to $18.6 million.
Over the daily price scale, Buyers barely attempt to close the daily price candle above the 20 day moving average. This price closing will fuel the ongoing recovery ahead. Now 50 DMA may act as the next resistance. Especially, the daily RSI indicator is going to hit the semi-line.
Conclusion
The NEO crypto price is trying to sustain cost above its previous swing low of $6.5. If bulls fail to manage crypto above this support then again bears may drag price down until the latest annual bottom level.
Support level – $6.5 and $6.0
Resistance level – $9.0 and $10
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
