Neo price analysis

Today is a pretty neutral day for Neo price analysis. Yesterday, Neo closed at $6.71 after falling from $7.5. Today the price fell to $6.42 and then recovered to $6.68 by the end of the day (UTC). So no significant discount.

The crypto heat map also shows us that the market is less volatile today. Bitcoin was up just 0.76 percent while Ethereum edged up 1.58 percent. However, after consistently bearish days this week, this seems to be a positive sign.

Neo’s 1 day price analysis tells us that the market was in balance when the RSI touched 42. It was neither overbought nor oversold. Neo seems to have found support at the $6.42 level. However, recovery is still pending. So we are not sure if this is the start of a trend reversal.

Neo price analysis 24-hour

The last 24 hours have been quite interesting for Neo. The price has approached the support level at the beginning of the day. After hitting $6.42, the market quickly reversed course and Neo entered the range for the day. NEO/USD then hit a 24-hour high of $6.71. However, it is evident that today’s price action was not very significant. This is nothing more than an attempt by the bull to regain control and slowly drain the bear. We may see some positive price action over the next 24 hours.

4-hour Neo price analysis

4-hour Neo price analysis

Considering that Neo may have found support at $6.42 and the bearish momentum seems to have ended, Neo may actually head back higher in the next 24 hours. The RSI on the 4-hour chart suggests the market is slightly tilted to the underbought side. Although most would say that the RSI 35 is balanced.

At the same time, the MACD indicator shows the strength of the red histogram is decreasing, indicating that the market is now poised for a reversal.

Neo Price Analysis: Conclusion

Maybe it’s time for Neo to relax a bit. Today’s Neo price analysis is Balanced. So, it is certain that the bulls have caught up to the negative price action. Neo may recover by a certain amount over the next 24 hours, allowing short-term traders to take quick profits. However, in the longer term, Neo’s price prediction will be different. As always, traders should remember that cryptocurrencies are fickle and the market is highly speculative.

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