Neo Price Prediction for Today, November 5 – NEO Technical Analysis

The Neo price prediction shows that NEO is likely to cross above the upper boundary of the channel if the buyers increase the pressure.

Neo Prediction Statistics Data:

• Neo price now – $11.02
• Neo market cap – $935.3 million
• Neo circulating supply – 70.5 million
• Neo total supply – 100 million
• Neo Coinmarketcap ranking – #63

NEO/USD Market

Key Levels:

Resistance levels: $14.0, $15.0, $16.0

Support levels: $8.0, $7.0, $6.0

NEO/USD begins a fresh increase from the $10.02 level as the price continues to rise well above the 9-day and 21-day moving averages. However, it is likely for the crypto to accelerate higher if it breaks above the upper boundary of the channel.

Neo Price Prediction: How Far Can NEO/USD Go?

At the moment, the Neo price is trading at $11.02 after adding 9.87% to its value on the day. The strength of the coin is opening the door for a massive recovery movement targeting $12.0. Meanwhile, from a technical perspective, NEO/USD is capable of tackling the hurdles toward the upside as the 9-day MA remains above the 21-day MA.

Moreover, it seems like the bulls may aim for a clear break above the $12.0 and $12.50 levels in the coming sessions. Meanwhile, if they are successful with the break, the resistance levels of $14.0, $15.0, and $16.0 may come into play. In the event a reversal ensues, traders could be alert for critical support levels at $8.0, $7.0, and $6.0 respectively.

NEO/BTC Begins a Bullish Journey

Against Bitcoin, the Neo price heads toward the upside as the coin trades at 3204 SAT and expects a break above the upper boundary of the channel. Looking at the daily chart, traders can see that the bulls are dominating the market and the next resistance level may come at 3800 SAT and below.

On the downside, if the bears step into the market, a possible bearish movement could bring the market below the 9-day and 21-day moving averages which could touch the support level at 2500 SAT and below. However, the 9-day MA crosses above the 21-day MA, confirming the bullish movement in the market.

Alternatives to Neo

The Neo price is attempting to create an additional bullish trend, and traders may expect more positive movements toward the upper boundary of the channel which could test the resistance level of $12.00. Therefore, any further bullish movement above the channel may locate the potential resistance level at $12.50.

On that note, the Bitcoin Minetrix token’s impressive $3.39 million presale achievement reflects strong investor confidence and sets the stage for significant cryptocurrency growth. Comparing it to NEO with a $935.3 million market cap, the Bitcoin Minetrix’s substantial presale success suggests the potential for rapid growth, possibly surpassing more established counterparts. Investors seeking high-growth opportunities should take note of the Bitcoin Minetrix’s promising start and exciting prospects.

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