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NEO Price Prediction: NEO Price Surges Sharply to Previous Highs as Volatility Increases

  • NEO price is trending upward against the USDT pair.
  • The conceptual round level of $10 is observed as the next resistance level.
  • The MACD indicator has left the negative zone, and the histogram continues to extend higher.

During the recent bitcoin boom, the crypto market performed well for short-term investments. Thus according to the ongoing trend the price of Neo is witnessing an uptick. Meanwhile, the NEO token is trading at $7.58 against the USDT pair, as of press time.

The price action of NEO crypto shows a higher-higher and higher-low trend on the daily price chart. Buyers are aggressively accumulating the given cryptocurrency and buying on the dip. This unstoppable bullish trend is moving towards the crucial rescue zone at $10 to record a remarkable bullish rally.

Overall crypto market capitalization exceeded $970 billion as of January 14. Meanwhile, the market capitalization of NEO stands at $529.7 million with an intraday gain of 3.24%. The collapse of FTX over the past few days caused huge losses for buyers and saw them hit a 52-week low of $5.94 on December 30. Later, the cryptocurrency market is turning positive after falling below.

The $5.9 to $6.0 area has turned as a support level for the bulls. On the other hand, $9.0 appears to be an upcoming bullish hurdle before the conceptual round level of $10. Specifically, in terms of the weekly price chart, NEO is forming a double bottom formation, which could lead to an upcoming rally.

Technical Indicators Show Positive Trend 

In terms of the daily price scale, the RSI indicator remains at 74, which is hovering in the overbought zone. At the same time, the ADX supports a bullish trend as its peak forms a higher-low. Additionally, the MACD indicator left the negative zone, and the histogram continued to extend higher.

Conclusion

NEO coin against USDT executes buyer orders. However, buyers have placed buy orders at each financial level. As of now, the bulls will have to take the asset above the $8.0 resistance level as soon as possible.

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Support level – 7.0 and $6.0

Resistance level – $9.0 and $10

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing