NEO’s Price Analysis: Support Holds Firm

Short-term analysis focuses on NEO’s movements around key resistance and support levels, with targets set at $17.12.

The three-day candlestick chart indicates that the cryptocurrency continues to find substantial support from $12.81 to USD 13.95. As long as it maintains its position above this zone, the targets for the medium term are $18.30 and $25.

Speculative spot investments with a halt on weekly candle closures below $12.80 are recommended for investors.

NEO began March with a price increase from $14 to $18.3 and is currently trading at $14.57 as of March 14; a green monthly candle indicates sustained upward momentum.

The upward movement of the cryptocurrency from the support zone, spanning $12.81 to $13.95, is pivotal for its medium-term prospects. Significant obstacles are approaching $18.30 and $25, whereas a weekly close below $12.80 might indicate a current trend reversal.

NEO’s Key Resistance and Support Levels

The technical analysis highlights the criticality of these support and resistance levels in determining the price trajectory of NEO.

The price action of the cryptocurrency in the vicinity of the descending trend line on the 2-hour chart is crucial in the short term.

The subsequent target would be $17.12, contingent upon a 2-hour candle closure surpassing the $15.18 level and a closure above the blue resistance line.

In contrast, a failure to exceed $15.18 may result in the cryptocurrency trading near the support zone between $13.91 and $13.59.

Before entering trades, investors considering long positions should await a breach above $15.18 or a decline to the support mentioned above.

PIf the price falls to the $13.91–$13.59 range, they may wish to contemplate spot and futures transactions while establishing stops below $12.82.