In this NEO technical analysis, we will examine the current price action, trading volume, key levels and indicators for NEO-USDT. Sure, here are three sentences about NEO cryptocurrency: NEO is a blockchain-based platform that enables developers to build and deploy decentralized applications (dApps) with ease. With its robust architecture and flexible smart contract system, NEO provides a scalable and secure environment for dApp development, making it an attractive option for entrepreneurs and innovators in the blockchain space. Additionally, NEO’s unique consensus mechanism, known as Delegated Byzantine Fault Tolerance (DBFT), ensures that transactions are processed quickly and efficiently, providing a seamless user experience.
NEO Price Overview:
As of October 03, 2023, NEO is trading at approximately 7.21 USDT. Let’s dive into the detailed price action for NEO-USDT:
| Metric | Value |
|---|---|
| Open (O) | 7.34 |
| High (H) | 7.51 |
| Low (L) | 7.16 |
| Close (C) | 7.21 |
| Volume (C) | 750,095.33 |
- Open (O): The opening price for today’s trading session was approximately 7.34 USDT.
- High (H): NEO reached a daily high of around 7.51 USDT.
- Low (L): The daily low for NEO-USDT was approximately 7.16 USDT.
- Close (C): At the time of analysis, NEO is trading near its daily close of 7.21 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.90% |
| 3D Change (%) | -1.77% |
| 7D Change (%) | 0.28% |
| 30D Change (%) | 3.00% |
| 90D Change (%) | -20.86% |
| YTD Change (%) | 17.62% |
Over the past three days, NEOUSDT has declined by approximately -1.77%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.28%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NEOUSDT maintaining an upward trend of approximately 3.00%, despite intermittent fluctuations. Examining the last 90 days, NEOUSDT has witnessed substantial decrease of approximately -20.86%, reflecting strong long-term confidence. Year-to-date, NEOUSDT has steadily increased by around 17.62%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
NEO Live Chart:
You can access a live price chart for NEO-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.37896.
- Momentum score is 0.03.
NEO USDT Technical Analysis
NEO Trading Volume:
The trading volume for NEO (NEO) over the past 24 hours has been significant, with approximately 750,095.33 USDT traded against NEO. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): NEO is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): NEO is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for NEO-USDT is currently in the neutral zone, around 45.35142. This suggests that NEO is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
NEO (NEO-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
