Why is the NEO price rising today?

NEO price has been on the rise since Monday with the bull trend gathering momentum by the day. The price has risen by over 12% in the last two days attracting the attention of crypto traders.

Timeline of Neo

As Ethereum [ETH] breaks past the $1840 resistance level to reach $1900 and Bitcoin [BTC] attempts to climb above $29,200 once again, the broader crypto market sentiment remains bullish. In this context, Neo (NEO/USDT) continued its bullish trend since 22 January 2023, after breaking above the $8 former resistance.

NEO emerged as number two among the top-gaining coins today when most cryptocurrencies are down. CoinMarketCap data shows the token has increased by over 5% over the last day and is trading at $12.77.

The Neo price analysis reveals that NEO/USD is trading in a bearish trend as the bulls have been unable to break through the resistance at $10.96. Neo opened the trading day on a bullish sign but soon lost ground and slipped below $10.00.

Neo price analysis confirms an increasing trend for cryptocurrency today as the coin value has increased tremendously, reaching above $6.95, the resistance level for NEO/USD is at $6.96 and the support level is at $6.76 and has seen a slight price increase of 2.56% in the past 24 hours.

Neo price analysis recently reveals a bullish market sentiment after the cryptocurrency broke above the $8.57 level. The NEO/USD pair has found support at $8.22 and is currently trading above this level.

The latest Neo price analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bears were in the winning position, a downtrend has been following the price for the last 24-hours.

Neo price analysis shows a bearish trend for the cryptocurrency as the bears have been at the winning edge for the last 24 hours. Although a strong bullish wave was controlling the price trend in the previous week, today's trend proved relatively in support of the sellers.

Neo price analysis has been quite bearish today, in line with the overall sentiments of the cryptocurrency market. The day itself did not start on a positive note for NEO as the price closed at $8.5 yesterday after dipping from $9.0 two days earlier.

The Neo price analysis predicts an increasing trend for cryptocurrency today. Although the price was facing bearish resistance earlier, the bulls have managed to bring the price to $8.70 in the last 24 hours.

The Neo price analysis reveals the cryptocurrency was continuing the downslide again today after a brief respite yesterday. NEO/USD is currently trading at $8.50 after hitting a low of $8.40 earlier today.