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Price action in the NEOUSDT daily market still seems to lack key catalysts. This has kept its price action oscillating within a narrow range. Today’s trading session seems to have printed minimal gains off the support at the $9.34 baseline. Nevertheless, the market remains below important technical landmarks. Let’s see what may happen in this market.
NEOUSDT Buyers Are Making a Stand at the $9.34 Mark
Price activity in the NEO daily market has tested the support level at $9.34. This resulted in a minimal upward rebound in today’s session. The rebound is quite small, keeping the token trading below all the Guppy Multiple Moving Average (GMMA) lines.
Due to the magnitude of the price dip in the previous session, the Stochastic Relative Strength Index (Stochastic RSI) maintains a downward trajectory. Given the current indicators, it seems likely that price action may still break below the $9.34 support level.
NEO Price Action Retains a Restricted Outlook
The NEOUSDT 4-hour market suggests that price activity may be showing some consistency with its upside rebound. The last two candles on the chart are small but green. However, these candles have appeared below all the GMMA indicator lines.
Meanwhile, the minimal upward rebound seen on the price chart has initiated an upward crossover in the Stochastic RSI. Nevertheless, the indicator lines remain in the oversold region, which still limits upside potential. However, traders eying bullish gains can wait until price activity rises past three of the green GMMA lines before using bullish crypto signals targeting the $10.00 level.
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