NEO/USDT Approaching Resistance at $9.50, Breakout or Rejection?
$NEO

NEO/USDT is currently trading at $9.51, showing a +0.85% increase in the short term. The price is hovering around the VWAP level of $9.41, indicating that the market is in a consolidation phase, with traders waiting for clearer direction.

The 200-period moving average is positioned higher at $9.74, serving as a longer-term resistance level. The RSI currently sits at 57.77, suggesting neutral to slightly bullish sentiment, with neither strong bullish nor bearish control in the market.

The MACD indicator shows mild upward momentum with the MACD line at 0.05 and the signal line at -0.05, indicating potential for a slow bullish recovery, though the signals remain cautious.

NEO/USDT is testing the critical $9.50 resistance level, which has held up during recent price movements. A break above this level could lead to a retest of higher resistance zones around $10.00. If bulls manage to defend this level and push the price higher, the next immediate target will be $10.00.

NEO/USDT is currently consolidating near the key support level of $9.00 - $9.50. Bulls need to hold this level to prevent further declines, with a potential upward target of $10.00. Traders should watch for a breakout above the 200-MA at $9.74 for confirmation of a sustained bullish trend.

Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.

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