The NEO crypto signifies a retracement, and trades near the primary support region are around $16 -17. The trend is neutral, and the buyers decisively hold on to the gains. The crypto market has been bearish for weeks, and sellers have attempted to breach the prompt support zone of $15. However, neither the bulls nor the bears succeeded, and the price remained in the narrow range between $15- 18.
At press time, the Neo crypto (NEO) price traded at $18.27 with an intraday gain of 4.20%, reflecting neutrality on the charts. It has a monthly return ratio of 11.90% and 68.28% yearly. The pair of NEO/BTC is at 0.000284 BTC, and the market cap is $1.29 Billion. Analysts are neutral and suggest that the NEO crypto may stretch the rebound and will outperform above the $20 mark.
NEO Price Volume Profile Analysis On Daily Chart
The price-to-volume profile on the daily chart showcases a retracement move from the last trading session. Furthermore, the trend is neutral; buyers have begun accumulating and are trying to regain momentum. The intraday trading volume jumped over 10.29% to $92.35 Million.
Price Volatility and Weighted Sentiment Outlook
Amidst the price rebound, the Neo crypto displays a follow-on decline in the price volatility curve over the past few trading sessions. The price volatility curve noted a drop of over 21.20% to 0.0971. However, the weighted sentiment looks neutral and stayed near the midline around -0.439.
Social Dominance and X Followers Insights
Per the Santiment data, the social dominance data witnessed a spike of over 9.09% to 0.271%, noting a surge in the discussion reports. Similarly, the X followers data noted a bounce of over 2.30% and jumped to -159.
Development Activity and Total Open Interest Insights
On the daily charts, the development data witnessed a stable move and stayed near the midline around 30.76, showing a neutral outlook. However, the derivative data signifies a short covering. The open interest dropped over 1.89% to $36.58 Million in the intraday session.
Per the Fib levels, the Neo price trades at the 38.2% zone and is above the mid Bollinger Band zone. Similarly, the RSI curve stayed near the midline region, and a positive crossover was noted on the charts. Additionally, the MACD indicator noted a bullish crossover and suggested a significant pullback ahead.
The total supply of the NEO crypto is 100 Million, whereas the volume-to-market cap ratio is 0.0715, ranked 75 in market cap in the global crypto market.
Summary
The Neo crypto price has retested the 50-day EMA mark and delivered a retracement in the last sessions. Moreover, the trend is neutral, and buyers are looking to initiate a sharp rebound in the upcoming sessions.
Technical Levels
Support Levels: $17 and $15
Resistance Levels: $20 and $22
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
