Neo Price Prediction for Today, September 5

Neo Price Prediction for Today, September 5 – NEO Technical Analysis

Updated: 05 September 2023

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The Neo price prediction shows that NEO gains 6.95% in the last 24 hours to touch the daily high at $7.63, it could find the next resistance at $8.00.

Neo Prediction Statistics Data:

Neo price now – $7.57
Neo market cap – $525.2 million
Neo circulating supply – 70.5 million
Neo total supply – 100 million
Neo Coinmarketcap ranking – #61

NEO/USD Market

Key Levels:

Resistance levels: $9.50, $10.00, $11.50

Support levels: $5.50, $5.00, $4.50

Neo Price Prediction for Today, September 5 – NEO Technical Analysis — NEOUSD – Daily Chart

NEO/USD has been exhibiting strength over the last 24 hours but managed to regain above the 9-day and 21-day moving averages amid technical correction from the downward trend. Now, the coin is recovering toward the resistance level of $8.00. Moreover, if the red line of the 9-day MA crosses above the green line of the 21-day MA, the Neo price may continue the bullish movement.

Neo Price Prediction: NEO Finally Making A Bounce?

Looking at the daily chart, the Neo price keeps moving to the north. However, though the current price of Neo at $7.57 is above the 9-day and 21-day moving averages within the channel, the recovery seems to have begun as the technical indicator Relative Strength Index (14) crosses above the 50-level. The Neo price needs to continue its up-trending growth in the coming days to recover properly. As per the current trend, the next resistance level is likely to come at $9.50, $10.00, and $10.50.

On the downside, a sustainable slide below the moving averages could open the bearish way to a $7.00 support level and this barrier may likely slow down the bears and then serve as a jumping-off ground for the recovery. Meanwhile, the next support levels could be located at $5.50, $5.00, and $4.50 respectively.

NEO/BTC Breaks Higher

Against Bitcoin, the Neo price continues to trend bullishly as the resistance further outweighs the support. However, there is a need for an increasing volume and resistance to cause another upsurge in the market which could make the coin cross above the upper boundary of the channel. Any further bullish movement above this barrier could touch the resistance level of 3200 SAT and above.

Meanwhile, there’s no sign of a bearish movement in the market at the time of writing but if a bearish move occurs and brings the coin below the 9-day and 21-day moving average, NEO/BTC may hit the nearest support at 2500 SAT and below. The technical indicator Relative Strength Index (14) is seen moving into the overbought region to increase the bullish movement.

NEO Alternatives

The Neo price may continue to trend to the upside if the bulls increase the buying pressure. However, the movement above the upper boundary of the channel may likely push the coin to the higher highs. On the downside, a bearish movement below the 9-day and 21-day moving averages could stop the initial upward movement and may create a bearish momentum for the coin.

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