Neo price seems to have set the right price momentum beating continually the ongoing bearish volatility in the crypto market. Yesterday, the currency outperformed many altcoins as it marked an impressive hike and traded above $11.20. However, after hitting $11.80, NEO price faced correction and dropped to $11.29, but still, it holds bullish momentum.
Neo Price Analysis
If we look at the price movement of NEO/USD for the past two months, the currency marked hefty price fluctuations. It started March at $11.83 with steady upside momentum and continued till it touched a high of $12.45. However, from this high, the currency faced steep fall, and the price fell to $10 mark. After that, the coin again faced immense pressure, and the price dropped as low as $4 on March 13. Despite the huge bearish pressure, NEO managed to show recovery, and over the next week, it reached $7.23.
Further, there was a minor correction observed in the price movement of NEO, and it went down to $6.82 on March 30. Later, the coin gathered traction and continued to raise its price bar to reach $9.62. After trading above $9 mark, NEO cooled down its pace and traded stably, but from the past two days, it again marked a tremendous jump and reached $11.80 yesterday.
Today the price of NEO coin has seen a moderate correction, and it spotted at $11.29 with having support from its daily short-term MAs, namely, 20-day MA & 50-day MA at $9.85 & $9.36, respectively. The MACD indicator reflects a bullish signal, and hence, the coin might continue to trade with upside momentum in the upcoming hours.
Despite the recent correction, the currency holds bullish influence, and in the next few hours, it might again mark upside movement. As per the current trend, Neo might test the next resistance at $10 mark, and if it continues to trade upwards, it may test its crucial resistance around $12.4. However, if the bears get stronger, its strong support is given at $9.36.