Neo Price Prediction for Today, October 23 – NEO Technical Analysis

On Oct 23, 2023

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The Neo price prediction shows that NEO may need to break above the upper boundary of the channel if the upside momentum gains traction.

Neo Prediction Statistics Data:

Neo price now – $7.44
Neo market cap – $535 million
Neo circulating supply – 70.5 million
Neo total supply – 100 million
Neo Coinmarketcap ranking – #66

NEO/USD Market

Key Levels:

Resistance levels: $8.50, $9.00, $9.50

Support levels: $6.50, $6.00, $5.50

NEOUSD – Daily Chart

NEO/USD has gained over 3.59% since the beginning of the day to trade at $7.76. The Neo (NEO) has become one of the consistent crypto as the coin hovers above the 9-day and 21-day moving averages. Currently, the coin’s total market value is registered at $535 million, while its total supply is $100 million.

Neo Price Prediction: What to Expect from Neo

On the daily chart, the Neo price is initially supported by $7.0 and once this level is broken, the sell-off may locate the nearest support at $6.80. Meanwhile, if the price slides below the 9-day and 21-day moving averages, the sell-off is likely to hit the support levels of $6.50, $6.00, and $5.50 respectively.

On the upside, the market may need to see a sustainable move above the daily high at $7.76 for the upside to gain traction. The next resistance may now be created above the upper boundary of the channel while the potential resistance could be located at $8.50, $9.00, and $9.50. The 9-day moving average may cross above the 21-day moving average, which could signal that an extended recovery may be underway.

NEO/BTC Trades Bullishly

Against Bitcoin, the Neo price has evolved for a while in a very different way. Currently, sellers and buyers are in a tug-of-war about who will dominate the market but the price is currently moving within the channel while the 9-day MA remains below the 21-day MA, suggesting a bearish movement.

Neo Price Prediction for Today, October 23 – NEO Technical Analysis — NEOBTC – Daily Chart

Looking at the daily chart, the bulls are making an effort to build the confidence to increase their entries. Moreover, if the bulls succeed in breaking above the moving averages, traders would expect the market to reach the resistance level of 2700 SAT and above while a bearish cross below the lower boundary of the channel could bring it to the support at 2200 SAT and below.

Neo Alternatives

The Neo price has been exhibiting strength over the last 24 hours and managed to regain above the 9-day and 21-day moving averages amid technical correction from the downward trend. Moreover, if the red line of the 9-day MA crosses above the green line of the 21-day MA, the Neo price may continue the bullish movement.

However, the new Bitcoin Minetrix project is turning heads as it is launching a decentralized cloud mining platform that allows investors to earn passive BTC mining rewards by staking the $BTCMTX token. Meanwhile, the token has seen impressive demand in its presale, having already raised close to $2 million in just over 3 weeks.

BTCMTX NEW 100X Possible Coin?! Bitcoin Minetrix Crosses $2.1m Mark As $BTC Rallies