NEO Technical Analysis - Reversal Rally Ready To Reach $16
With buyers starting to overtake the market with the start of a new week, altcoins are getting much-deserved attention after a long correction phase. Today we’ll be analyzing one such altcoin with a high reversal possibility, that is NEO!
Starting the week with a huge bullish candle, NEO projects an increase in overnight bullish momentum. However, will this momentum sustain for the rest of the week or is it just another lower high formation attracting buyers to trap?`
Stay tuned and watch this video till the end to better understand the NEO price action and help you in your own research.
Let us start with the market values, NEO's current market price today is $12 at 5:30 GMT, with a rise of 15.67% in the past 24 hours. The price jump finds the support of increased trading volume, projecting an overnight shift of power.
Looking at this month’s performance of NEO, it started with a downfall of 50% from $19 to $9.5, followed by a lateral trend shift. After this, we can see the gradual surge in underlying bullishness picking up momentum to finally create today’s bullish candle.