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The NEO/USDT market has re-emerged today as one of the best-performing crypto markets. This coin currently ranks second on the daily list of top crypto movers, recording a 1.25% price increase at the time of writing. With more positive indicators in play, let’s take a closer look at the recent price movement in this market.
NEO Statistics
Current Price: $5.75
Market Capitalization: $395.94M
Circulating Supply: 70.53M
Total Supply: 100M NEO
CoinMarketCap Rank: 112
Key Price Levels
Resistance: $6.00, $6.50, $7.00
Support: $5.00, $4.50, $4.00
NEO Maintains a Steady Upside Retracement
The NEO/USDT daily chart reveals that bullish momentum is persisting. As a result, the market continues to trend upward, albeit with modest gains.
The most recent price candle is green and is approaching the 20-day Moving Average (MA) line from below. Simultaneously, the Stochastic Rate of Change (ROC) indicator remains below the 0.00 level but shows signs of a slight upward turn, supported by the steady increase in price action.
NEO/USDT Market Faces Minimal Rejection
On the 4-hour timeframe, price action continues to climb through key technical levels. However, upon reaching the 100-day MA line, the market experienced a slight pullback.
At the same time, the Stochastic ROC indicator has risen above the equilibrium level, with its later section turning green—an indication of dominant buying activity. Consequently, traders may consider remaining confident, with the next target potentially set at the $6.25 level.
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