- NEO is trying to carry out a price recovery since yesterday; currently facing hurdles
- The support level appears near $8.51; a breakout above 50% Fib level is must for a rally
- Technicals are yet to give any positive signs; bears may hold grip again
Although NEO’s two-day price chart manifests enough volatility, the coin has failed to strike a lasting price recovery. Meanwhile, Bitcoin is also persistently trying to keep the bears away.
NEO Price Prediction
The day before yesterday, NEO initially traced a low swing at $8.64 from its opening price at $8.86. The price went as high as $9.05 in the later part of the day to see a steady pullback. It was yesterday when the coin bottomed at $8.51, where it found a support level. With a weak rebound, the currency reached as high as the 50% Fib level and then faced a stiff resistance above it. NEO price again approached the 0% Fib level, where the support lies.
The coin again started to recover but is yet to trade above the 50% Fib level. At 09:36:13 UTC, NEO is trading at $8.68. Check out Neo price prediction by our expert to know more further about the future prices of Neo coin.
The MACD chart is heading downwards while the RSI indicator is moving up with a stable momentum. SMA lines appear prey much bearish with a notable gap in between. The coin needs to trade above the 78.60% Fib level to carry out a bull-run.
NEO price is likely to see the resistance levels at $9.07, $9.33 and $9.58 while its support levels stand at $8.56, $8.31, and $8.05.
