NEO News

NEO Appears Completely Bullish on the Daily Chart

NEO—one of the top 20 cryptos of the global market has just integrated with a Coinbase led open-source project—Rosetta. NEO is an open project for a smart economy, and the recent collaboration with Rosetta aims at improving protocol integration processes.

This integration will lead to building the next-gen internet with a complete and detailed analysis of all the eccentric aspects of every blockchain and beyond to rightly understand the best strategies of deploying nodes, recognizing deposits, and broadcasting transactions.

Rosetta is a comparatively new project in comparison to NEO and is very much specified to work on major upgrades and, thereby, push the blockchain ecosystem forward.

NEO Price Analysis

NEO Price News
NEO/USD Chart By TradingView

NEO, with the recent high in the last week, was seen breaching the 14-month resistance and the upper Bollinger Band on the above chart. Neo has been continuously strengthening after testing YTD supports as low as $4 during the market crash in March. However, on the above 24-hour chart, NEO/USD is seen exhibiting a parabolic curve like trend since the last month.

With a gain in momentum, NEO/USD is breaching the upper band due to a bullish sentiment and retains complete support from MA50 & MA200 irrespective of negative market sentiment.

NEO News Price

On the above chart, we see NEO reclaiming a 14-month high against the greenback with a quick gain in momentum after the YTD low. Moreover, the statistics are clear about how promising the crypto is as it has gained 395% in five months from the bottom price of $4 to facing a stringent resistance at $12 and currently trading at $18.05.

The MACD reflects bullish divergence due to recent positive trading. Similarly, the RSI reflects the increased demand and lies at 72.60 above the overbought zone.

Daniel Garza

Daniel Garza is well-known for his writing skills and works as a lead content writer in our team. He also has a deep interest in cryptocurrency funds and guides people on how to deal with a cryptocurrency exchange.

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