- NEO Coin is on an upward trajectory from the $12.81-$13.95 support zone, eyeing $18.30 and $25 milestones.
- Breaking above the $15.18 resistance could lead to a next target of $17.12 in the short term.
- “NEO’s rise from $14 signals a continuing upward trend, supported by a positive monthly candlestick.”
This article delves into NEO Coin’s long-term prospects, spotlighting the technical analysis and potential price targets that make it a cryptocurrency to watch.
Mid-Term NEO Analysis
Based on the 3-day candlestick chart, NEO continues to garner strong support from the $12.81-$13.95 range. As long as it remains above this zone, the mid-term targets are set at $18.30 and $25. Investors are advised to consider spot investments with a stop on weekly candle closures below $12.80. March saw NEO initiating a rise from $14 to as high as $18.3, with the current trading at $14.57 on March 14 and a green monthly candle indicating sustained upward momentum.
Technical Insights
NEO’s movement upwards from the $12.81-$13.95 support zone is crucial for its mid-term outlook. Key resistance levels at $18.30 and $25 are in sight, while a weekly closure below $12.80 could signify a trend reversal. The technical analysis underscores the significance of these support and resistance levels in NEO’s price trajectory.
Short-Term NEO Price Analysis
In the short term, NEO’s price action near the descending trend line on the 2-hour chart is pivotal. A closure above the blue resistance line, followed by 2-hour candle closures above $15.18, would set $17.12 as the next target. Conversely, failing to break above $15.18 could lead NEO towards the support zone of $13.91-$13.59. Investors eyeing long positions should wait for a breach above $15.18 or a dip to the mentioned support before entering trades, with potential consideration for spot and futures trades if the price reaches the $13.91-$13.59 range, setting stops below $12.82.
Conclusion
NEO Coin’s promising trajectory, highlighted by strong support zones and potential resistance breakthroughs, positions it as a compelling option for investors looking for long-term growth. The detailed analysis underscores the importance of strategic entry points and the potential for NEO to reach its ambitious targets of $18.30 and $25, backed by technical momentum and market sentiment.
