Resistance

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>NEO price has retested the 100-day EMA mark and is anticipating a pullback ahead.</a></li>
 <li><span>2</span> <a>Buyers need help to hold gains and attempt a pullback.</a></li>
</ul>
<p>The NEO price has regressed to the significant trendline support mark of $15 and is trading near the 100-day EMA mark. The trend is bullish, and the token has delivered higher swings.</p>
<p>For weeks, the NEO price was in a range and displayed a range breakout above the neckline hurdle of $15, reaching the top of $23. Afterward, profit booking was triggered, and the token has retraced 25% of gains in the past two weeks.&nbsp;</p>
<p>At press time, the NEO crypto (NEO) price traded at $15.64&nbsp; with an intraday drop of 11.20%, reflecting neutrality on the charts. It has a monthly return ratio of -5.20% and 52.10% yearly.&nbsp;</p>
<p>The pair of NEO/BTC is at 0.000272 BTC, and the market cap is $1.10 Billion. Analysts are neutral and suggest that the NEO crypto may pick strength and will retain the upside of $20 soon.</p>
<h2 class="wp-block-heading" id="strong-neo-price-volume-profile-analysis-on-daily-chart-strong"><strong>NEO Price Volume Profile Analysis On Daily Chart</strong></h2>
<p>On the daily charts, the NEO price to volume profile signifies selling pressure and a sudden selloff led to a breach of the 50-day EMA mark.</p> 
<p><a href="https://www.tradingview.com/chart/NEOUSDT/EKwUvRoh-NEO-Token/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/u/TheCoinRepublic/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>However, the token has taken support on the 100-day EMA mark and retested the breakout region of $15. Following the negative market sentiments, a short-term correction is anticipated.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-outlook-strong"><strong>Price Volatility and Weighted Sentiment Outlook</strong></h3>
<p>Amidst the price consolidation, the <a href="https://www.thecoinrepublic.com/2024/04/30/gas-price-stuck-in-range-can-bulls-escape-range-above-8-mark/" target="_blank" rel="noopener noreferrer nofollow">price</a> volatility curve sharply spiked over 35% to the 0.041 mark, and notable selling volume was displayed on the charts.&nbsp;</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (NEO), Weighted sentiment (Total) (NEO)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=eos&amp;pt=EOS&amp;df=2023-11-01T18%3A29%3A59.952Z&amp;dt=2024-05-01T18%3A29%3A59.952Z&amp;sat=shchcfg_EQfUEPnATLZh&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bneo%3BNEO%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bneo%3BNEO%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>The weighted sentiment looks neutral, and the value stood close to the midline, around -0.443, signifying a short-term negative outlook among the investors. The intraday trading volume dragged over 8.35% to $162.80 million.</p>
<p>Per the analysis done on 26 technical indicators, 14 indicators signal a sell outlook, 9 give a neutral call, whereas only 3 indicate a buy call.</p>
<h4 class="wp-block-heading"><strong>What Does Development Activity and Derivative Data Indicate?</strong></h4>
<p>Per the Santiment data, the development activity data highlights neutral data, and the value remained close to the midline region, around 29.02.</p> <iframe loading="lazy" title="Santiment Chart: Development Activity (NEO), Total Open Interest in USD (NEO)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=eos&amp;pt=EOS&amp;df=2023-11-01T18%3A29%3A59.952Z&amp;dt=2024-05-01T18%3A29%3A59.952Z&amp;sat=shchcfg_EQfUEPnATLZh&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bdev_activity%3Bneo%3BNEO%5D%3B%5B1%3Btotal_open_interest%3Bneo%3BNEO%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The derivative data delivers the long unwinding data, which led to a price drop of over 11% in the intraday session. The open interest dropped over 3.2% to $33.99 million, signifying a short-term volatile outlook.</p>
<p>Per the Fib levels, the NEO price trades near the 38.2% support zone, whereas the RSI curve dragged below the midline region, and a negative crossover was noted on the charts.&nbsp;</p>
<p>The total supply of the NEO crypto is 100 Million, whereas the volume-to-market cap ratio is 0.144, ranked 78 in the global crypto market cap.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The NEO crypto price signifies a sudden selloff and has breached the 20-day and 50-day EMA mark. Moreover, the token has retested the breakout region of $15 and is looking for a bounce ahead.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $15.10 and $14.70</p>
<p><strong>Resistance Levels:</strong> $16 and $16.30</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

NEO Price Near Trendline Support: Can Bulls Initiate Pullback?

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Thecoinrepublic.com

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