NEOUSDT Thrusts Through the Resistance at the 50 Fibonacci Retracement Level

NEOUSDT price activity earlier broke out of its roughly two-month-old consolidative phase, subsequently surging through multiple resistance marks. Today, the token gained further traction, resulting in an additional 8% increase in its price.

Key NEO Statistics:
Current NEO Value: $10.87
NEO Market Cap: $773,825,874
Circulating Supply of NEO: 70,538,831 NEO
Total Supply of NEO: 1,000,000,000
NEO CoinMarketCap Ranking: 59

Key Price Levels:
Resistance: $10.87, $11.50, and $12.60
Support: $10.50, $9.00, and $8.00

The NEOUSDT Market Appears to Possess Considerable Bullishness at this Point

Price action in the NEOUSDT market initiated an upward correction in the latter part of October. Subsequently, the market continued to rise, surpassing higher price levels. Although the ongoing session has yielded significant profits, there were some losses due to rejection.

However, the price activity remains above the Guppy Multiple Moving Average (GMMA) curves. Additionally, the Moving Average Convergence Divergence (MACD) indicator lines have been consistently rising upwards, with their bar showing a green appearance due to the gains recorded in the ongoing session.

NEOUSDT Aims for the $11.00 Mark

Price action in the NEO market, on a smaller time frame, has been targeting the resistance level at $11.00. This assumption is derived from the last price candle on the chart maintaining its green appearance. The candle’s shadow has tested the $11.00 mark. Although the market remains above the MA lines, the observed rejection is minimal.

Moreover, the Relative Strength Index (RSI) lines are resuming their upward trajectory after a slight convergence earlier. The leading line of this indicator has just crossed the 60 mark, indicating that the trend is not extensively extended at this point. Hence, the upward correction may potentially reach the $12.00 mark.

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