$NEO /USDT Technical Analysis:🚀🎯
Current Price:
$12.97 (+5.62% in the last 24 hours)
Key Technical Indicators:
Bollinger Bands (20, 2):
Upper Band: $13.08
Middle Band: $12.63
Lower Band: $12.18
Parabolic SAR: $12.68
Price Action:
The price is currently approaching the upper Bollinger Band, indicating potential resistance at $13.08.
The Parabolic SAR at $12.68 is also suggesting a potential point of reversal if the price dips.
The market depth shows some selling pressure (8.98% at $12.98), which could slow further upward movement unless buying momentum picks up.
Trade Momentum:
Positive momentum is shown with a 5.62% increase in the last 24 hours.
A potential breakout above $13.08 would signal continuation.
A retracement toward the middle Bollinger Band at $12.63 could offer a buying opportunity if the price consolidates.
Trade Signals and Target Levels:
Bullish Scenario:
Entry: If NEO breaks above $13.08 (upper Bollinger Band), enter the position.
Target 1: $13.50 (next resistance level based on price action).
Target 2: $14.00 (psychological resistance and previous high levels).
Target 3: $14.50 (further upside if momentum continues).
Bearish Scenario:
Entry: If the price drops below the Parabolic SAR level of $12.68 or the middle Bollinger Band at $12.63, consider selling.
Target 1: $12.18 (lower Bollinger Band support).
Target 2: $11.80 (24-hour low).
Target 3: $11.50 (previous support zone).
Neutral Range:
Range Trading: If the price stays within the Bollinger Bands ($12.18 - $13.08), consider range trading with buy orders near $12.63 and sell orders near $13.08.
Summary:
Bullish: Targeting $13.50, $14.00, $14.50 if the price breaks above $13.08.
Bearish: Targeting $12.18, $11.80, $11.50 if the price dips below $12.68.
Momentum: Positive for now, but a pullback to $12.63 could offer an opportunity to buy. Watch for breakouts or a potential reversal.
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