#NEO/USDT Market Insights: Current Bearish Trends and Bullish Prospects
The recent analysis of NEO/USDT highlights a descending triangle pattern, indicating potential bearish momentum unless a significant breakout occurs. Currently, NEO is trading below its 200-period SMA across daily, 4-hour, and 1-hour charts, reinforcing the bearish trend. The key support level is around $8.00, with resistance near $11.50 - $12.00. Volume levels are moderate, lacking the bullish spikes needed for a reversal
A breakout above $12.00 could shift the outlook bullish, targeting $15.00, with a bullish probability of 50%. However, a breakdown below $8.00 strengthens the bearish case, with a bearish probability of 70%. Overall, the analysis suggests a cautious market with a higher likelihood of continued bearish activity unless significant bullish indicators emerge.
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$XRP
