NEO seems to be taking full advantage of the overall bullish market condition. Over the last 24 hours, it has been inflated by 1.69%, and the value against USD has touched $11.288, coming from $11.100. This bullish trend is likely to be sustained in the short-term.
NEO price was being traded at $11.1002, and over the initial 1 hour and 24 minutes, it marked a steep hike and got placed at $11.355. However, the currency couldn’t keep its price at this high for long and started trading downwards.
NEO/USD Price Chart
By 17:35 UTC, NEO lost 2.85% value and got placed at the lowest point of the day at $11.031. It was followed by a decent price recovery that helped the coin to reach as high as $11.459 by 23:36 UTC. After this hike of 3.87%, the NEO coin corrected downwards and reached $11.288 at the time of writing this analysis.
NEO’s 50 days MA ($11.3068) has managed a decent lead over its current price at $11.288. However, the 20 days MA (11.2828 USD) is still lagging behind the current position. As per our past performance and placement of daily MAs, NEO is likely to keep the current trend intact for some more days before trade upwards. Investors are advised to stay cautious of unprecedented price movements.
Resistance and Support Levels
R1: $11.50, R2: $11.62 and R3: $11.86
S1: $11.14, S2: $10.90 and S3: $10.78