NEO/USD Bulls Takes Over the Market

The Neo price prediction could spike a significant surge as the price breaks above the resistance level of $8.0.

Neo Price Statistics Data:

• Neo price now – $8.47
• Neo market cap – $598.3 million
• Neo circulating supply – 70.5 million
• Neo total supply – 100 billion
• Neo Coinmarketcap ranking – #68

NEO/USD Market

Key Levels:

Resistance levels: $10.0, $10.5, $11.0

Support levels: $7.0, $6.5, $6.0

NEO/USD is seen refreshing to a new high as the coin breaches above $8.5 while currently trading at $8.47 with a bullish crossover above the 9-day and 21-day moving averages. The bears are attempting to step back into the market, sliding back below the daily high at $8.61; meanwhile, the bulls may try to collect more on the price dips.

Neo Price Prediction: Neo (NEO) May Trigger Fresh Rally

Looking at the daily chart, the Neo price can only increase the bullish movement if the $7.86 support is maintained at all costs. Currently, the technical indicator Relative Strength Index (14) is likely to cross above 60-level by sending bullish signals into the market which can encourage more buyers to enter the market.

Meanwhile, the red line of the 9-day moving average may need to cross above the green line of the 21-day moving average, so that the Neo (NEO) may continue to do well and the market price may reach the resistance levels at $10.0, $10.5, and $11.0 respectively. On the contrary, if the coin decides to make a slide below the moving averages, then, there may be a quick bearish drop which may likely bring the market down to the support levels of $7.0, $6.5, and $6.0 respectively.

When compares with Bitcoin, Neo price is hovering above the 9-day and 21-day moving averages as the price plans to cross above the upper boundary of the channel. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving towards the 60-level. However, for the fact that the market remains on the downside, the coin is likely to move bullishly as the bulls step into the market.

Moreover, the daily chart reveals that the potential resistance level could be located at 470 SAT and above, but a bearish movement may likely cancel the bullish pattern, which could attract new sellers coming into the market with the next focus on the support level of 400 SAT and below.

Presently, the IMPT token is above halfway through its presale and has been spectacularly successful so far, having raised around $6 million.

Stage one of the Dash2Trade presale has been sold out and this took less than 4 days. At the moment, D2T is still cheap at 0.05 USDT in stage two, the amount raised so far approaches $2 million.

Related:

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