$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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