NEO News

NEO/USD Crosses $8.1 After Registering 16% Hike in 30 Days

NEO price has improved in ten folds in the past 30 days. The coin has touched $8.14 and is currently moving towards the major resistance level. However, technicals indicators of the currency reflect the possibility of a trend reversal. The regression might embark as the coin has reached its 30-days high.

NEO Price Analysis

NEO Price News
NEO/USD Chart By TradingView

NEO price was at $7.01 on March 25, and then, over the next 2 days, it registered a moderate hike and touched $7.22. However, it was followed by a huge plunge of 15%, and the coin touched $6.23 on March 29. After that, the NEO coin recovered, and on April 3, the price touched $7.42. On the next day, the SMA 50 & 20 of the currency reflects bullish crossover as the 50-day MA crosses above the 200-day MA. And thus, the price escalated with strong upside momentum.

On April 07, the coin marked a 17.80% hike, and the price touched $8.16. Then, it continued to trade in a similar range, but later, on April 10, it faced a steep fall and dropped to $7.26. The next 5 days experienced moderate regression. And on April 16, the price dropped even below $7 and touched $6.83. However, from this low, it escalated to $7.71 on the next day.

Further, Neo coin kept the uptrend intact the price touched $7.95. However, from this high, the price again faced rejection and dropped to $7.11. Later, NEO/USD marked a steady upside movement and touched $8.14 at the time of writing.

The RSI is trading in the overbought region at $70.63. As per the current momentum, the price might test the next resistance $8.4, if continued upwards. However, if the Neo coin face trend reversal, it might find the next support around $7.36.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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