NEO/USD May Break Above $9.5 Level

The Neo price prediction may continue to show a bullish movement if the market could rise above the $9.5 resistance level.

Neo Price Statistics Data:

• Neo price now – $9.15
• Neo market cap – $702.1 million
• Neo circulating supply – 70.5 million
• Neo total supply – 100 million
• Neo Coinmarketcap ranking – #65

NEO/USD Market

Key Levels:

Resistance levels: $11.0, $11.5, $12.0

Support levels: $7.5, $8.0, $8..5

NEO/USD is showing positive movement for the past few days as the market moves to cross above the upper boundary of the channel. Apart from this, the price of Neo may need to locate the resistance level of $9.5 and traders can expect a tremendous bullish movement in the market soon.

Neo Price Prediction: NEO Could Shoot to the North

The daily chart shows that the Neo price is attempting to create a new positive trend, and traders may expect a bullish continuation towards the upside, which could test the resistance level of $9.5. Similarly, the technical indicator Relative Strength Index (14) moves to cross above the 70-level, and crossing above this level may locate the potential resistance levels at $11.0, $11.5, and $12.0 in the long term.

Meanwhile, if the Neo price spike to the upside, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Neo price withdraws back below the 21-day moving average, and this could roll the coin back to the long-term supports at $7.5, $8.0, and $8.5.

Against Bitcoin, the Neo price follows the bullish movement as the coin remains above the 9-day and 21-day moving averages. Moreover, if the coin crosses above the 9-day and 21-day moving averages, the market could release more bullish pressure as the technical indicator Relative Strength Index (14) moves to cross into the overbought region, which indicates that more bullish signals are going to play out.

However, if NEO/BTC falls and crosses below the 21-day moving average, it may bring the coin to the nearest support at 380 SAT, and any further bearish movement could lower the price to the support level of 360 SAT and below. Nevertheless, if the coin continues to follow a bullish movement and crosses above the upper boundary of the channel, traders could see a bull run to the resistance level of 460 SAT and above.

NEO Alternatives

The Neo price is moving sideways at the moment and may start rising once the technical indicator turns upward. So, buyers may need to gather enough momentum to push the market price to the north. However, there is a MEMAG token presale that is ongoing and time is running out, the presale has raised almost $4 million. Investors are therefore expected to invest more before the expiration of the presale.