From yesterday, NEO coin was trading under bearish influence as its price has fallen to the support of $8.54 overnight. The currency has marked an overall regression of 4.47% in the said time frame and currently, it spotted around $8.54.
NEO Price Analysis
Yesterday, the NEO price was trading at $8.9463 in the initial hour and then, after breaching $9.033 price level, it started trading downwards and between 02:01 & 11:10 UTC, the coin lost 2.45% value and got placed at $8.8123. Then, the coin regained momentum and marked a 1.93% hike that added $0.17 value and pushed the NEO price to $8.9872 by 16:15 UTC. However, NEO again faced rejection and fell to $8.504 over the next 9 hours after registering a 5.38% fall.
Today, from the first hour, the NEO coin turned flattish but still its 20 & 50 days moving averages are trading below its current price of $8.54 with a marginal difference. As per the current momentum and Neo price forecast, it might face consolidation at the current price range but later, it may regain upward momentum and cross the next resistance around $9 in the upcoming days.