As per new technical analysis, Neo is a blockchain network that provides a robust platform to developers to build decentralized apps and smart contracts. It aims to build a smart economy and facilitates the development of the new age web. It provides cross-chain interoperability with other crypto assets like Ethereum, Binance chain, etc. NEO is the native token of this ecosystem. Past Performance On April 10, 2021, the opening price of NEO was $60.84. As of April 16, 2021, the closing price of NEO was $86.83. Thus, in the past week, the NEO price has surged by roughly 43%. In the last 24 hours, NEO has traded between $85.93-$96.72. https://ift.tt/32mUApp Day-Ahead and Tomorrow Currently, NEO is trading at $94.83. The price has increased from the opening price of $86.83. Thus, the market seems positive. The MACD and signal lines are positive. A bullish crossover by the MACD line over the signal line has occurred too. Thus, the overall market momentum is bullish. However, both the lines are very close to the zero line and may change signs soon. Hence, the price may rise for some time but an intermittent price pullback may occur. The OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. High demand for crypto will push the price upwards. Hence, we can expect the NEO price to rise. Currently, the RSI indicator is at 69%. It is soon likely to enter the ‘overbought’ region. Thus, buying pressures are high. The NEO price is poised to rise further. NEO Technical Analysis In technical analysis, at present, the price is above the second Fibonacci pivot resistance level of $95.98. It is soon likely to surpass the third resistance level of $99.90, as the overall market momentum is healthy. The price is soon likely to break out of the 23.6% FIB extension level of $98.86. Thus, the bullish forces are strong and we can expect the bull-run to continue tomorrow as well.
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