NEO price movement has reflected moderate upside momentum over the last few days, but recently, it faced a sudden price drop, and currently, it is trading around $7.21. This declining price movement started yesterday and continued till today.
The technical indicators are reflecting that there might be a slight improvement in the coin. The impending hours might give the intraday traders an opportunity to exit and save themselves from further loss.
NEO Price Analysis
NEO price was spotted at $7.6 during the opening hour of yesterday, and in the next 4 hours, the price escalated to $7.82. However, the currency experienced heavy pullback pressure in later hours, and the price dropped to $7.38 by 4.55% decline. From this low, the NEO/USD improved, and at 15:25 UTC, it touched $7.62 by 3.17% hike. The currency couldn’t hold itself at this level, and it again dropped to the low of $7.13 at 20:00 UTC. The day ended at $7.21, with an intraday regression of 5.18%.
Today, the NEO price escalated to $7.34 and continued to trade at a similar range with moderate fluctuations. At the time of writing, the price dropped to $7.22 from $7.31, and it holds the support from its SMA 50 at $7.21. The MACD chart is reflecting the bearish signal.
The chances of dropping to the immediate support at $7.21 are relatively more as it trades with immense pressure.