spot_imgspot_imgspot_img

NEO Price Forecast: Will it Begin its Move for a 30% Increase?

  • When NEO’s short-term chart is examined, price movements above $7 can be observed in the 2-hour time frame.
  • If the 2-hour closings above $7 continue, there is a potential for an increase to the $7.27 level.
  • In the event of a possible decline, the support range of $6.907 – $6.87 – $6.84 is identified as an important area.

When NEO’s short-term technical chart is examined, price movements above $7 can be observed in the 2-hour time frame. If NEO can sustain its 2-hour closings above $7, it can potentially rise to the $7.27 level.

Medium-Term NEO Price Analysis

2-Day NEO/USD Price Chart
2-Day NEO/USD Price Chart

When NEO’s 2-day technical chart is examined, it can be seen that the price is moving near the $6.81 level. If NEO can sustain its 2-day closings above $6.81, it may intend to move the upward movement to the $7.75 weekly resistance and then the $8.34 2-day resistance level.

However, if NEO makes weekly closings below the $6.82 level, it can extend the downward movement to the $6.28 level. Closings above this level should be an important reference for spot investors.

As long as NEO maintains the $6.82 support, it is possible to observe the $8.92 level as an upward target. However, before all this, surpassing the resistance levels mentioned in the analysis can strengthen the trend even further.

Short-Term NEO Price Analysis

2-Hour NEO/USD Price Chart
2-Hour NEO/USD Price Chart

When NEO’s short-term technical chart is examined, it can be seen that price movements above $7 occur in the 2-hour time frame. If NEO can sustain its 2-hour closings above $7, it may have the potential to realize the upward movement towards the $7.27 level again.

However, if NEO makes closings below $7, it can extend the downward movement towards the support range of $6.907 – $6.87 – $6.84. If NEO receives strong buying reactions from this support range, it can carry the upward movement to the $7.54 resistance level indicated as the blue zone.

However, if NEO makes closings below $6.80, the analysis may become invalid. NEO needs to encounter strong buying demand from the blue zone in order to realize the mentioned upward movement.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Profitability Soars to 97%, Highest in Over Two Years

Bitcoin's remarkable price surge has propelled the majority of BTC addresses into a profit zone not seen in over two years, highlighting the cryptocurrency's strong market performance and promising future.

Morgan Stanley Eyes Bitcoin ETFs for Indirect Crypto Exposure

Morgan Stanley's recent SEC filing to gain Bitcoin exposure through ETFs marks a significant step towards integrating cryptocurrencies into traditional investment portfolios, potentially boosting the adoption and price of Bitcoin.

Bitcoin ETF Surge: BlackRock and Fidelity Lead with 79% of Inflows into the ‘Newborn Nine’

This article delves into the explosive growth of Bitcoin ETFs, highlighting the market dominance of BlackRock and Fidelity, the impact of fee reductions among competitors, and the broader implications for the cryptocurrency investment landscape.

Bitcoin, The 21st Century’s Berkshire Hathaway, Says SkyBridge’s Scaramucci

In a bold statement, Anthony Scaramucci of SkyBridge Capital compares Bitcoin to Berkshire Hathaway, suggesting that the cryptocurrency holds significant long-term value and wealth generation potential akin to the conglomerate led by Warren Buffett.

XRP Token Burning Hits Record High as Prices Surge!

In an intriguing development, the XRP Ledger has experienced an abnormal spike in token burning, coinciding with a robust rally in XRP prices, reflecting heightened activity and interest in the cryptocurrency.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.