- NEO coin’s 5-day price chart gives bullish signs; uptrend is likely to sustain
Neo price has escalated over the last 5 days amid market volatility. In the last one week, the whole market has faced sizeable ups and downs, including Bitcoin. However, in the last couple of days, Bitcoin has maintained its price above $6000 as it surged by more than 1% over the last 24 hours.
In this scenario, NEO has also faced turbulence till March 23. In the second half of that day, the coin started an uptrend, and it reached above $6.5 from its support level at $5.8.
- The coin went up by 19%, and now NEO price is consolidating firmly
The price hike saw a pause yesterday, where it noted a hike of more than 19%. Since then, the coin has been consolidating above the 38.20% Fib level as rejection was noticed above $7. Right now, the coin is testing resistance at $6.80, and further consolidation with stability can be anticipated.
- The 200-day EMA line comes across as an immediate support level
Yesterday’s price dip that took place due to a pullback has formed a support level at $6.68. One more immediate support level for NEO appears near the 200-day EMA line (at $6.65). Also, the 38.20% Fib level is expected to act as an active support level.
- No signs of volatility appear at present though the market is still in uncertainty
Neo coin is visibly above the 200-day EMA line noting a positive spell of the coin. Moreover, moving averages are showing the bullish picture as the short term SMA line is above the long term SMA line. Here, RSI is stable at 46, and MACD is meekly bullish with its MACD line on the upside.