Neo (NEO) continues to give positive signals by standing firm and pushing itself upwards despite the retreat in Bitcoin (BTC).
NEO, nicknamed China’s Ethereum, one of the most magnificent cryptocurrencies of 2021, came to mind again with the latest price movement. Despite BTC’s significant depreciation, NEO priced upwards and ignored the decline in the market. Can NEO, which lit the fuse by finding support at a point close to the monthly opening price, continue to break the resistances one by one?
What is the latest situation in NEO’s technical analysis?
The volume increase had a positive effect on the price!
NEO, which has been showing weak movements for the last few days, managed to rise from $ 11.20 and reach $ 13 in a short time. The fact that the $13 band coincided with the weekly opening price and was close to a minor resistance level naturally increased the sell-side transactions on the parity. However, the popular coin, which has eased to $ 12.60, continues to be priced in a relatively safe zone. NEO, which has a great interest especially in China, may explode if it closes daily above $ 12.90.
As of the current situation, NEO, which found buyers at $ 12.61, will want to test $ 14.19 – 15.79 – 16.94 and $ 18.60, respectively, when it breaks $ 12.90 in volume. In this process, BTC’s price movement, BTC dominance and news flow regarding the market in general will be of critical importance. In the scenario where these factors go negative, we can first see a relaxation to the 11.93 and 10.77 dollar range. If the buyers at these levels are insufficient, there may be declines to 9.68 and 8.67 dollars.
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