Are you keeping an eye on NEO and curious about its next move? Then you are in the right place. Let’s dive into the most recent NEO price action and see what the “Ethereum of China” is up to. The token has shown a relatively stable performance in recent hours. The NEO price has been moving gradually upward, avoiding any sharp corrections despite the broader volatility in the crypto market.
The token has maintained its momentum through modest upswings and limited bearish reversals. The ongoing NEO trend hints at a cautious but consistent bullish sentiment. With market participants watching for stronger signals, the current chart activity could hold early signs of a breakout or another consolidation phase. Let’s examine the latest technical patterns and what they may suggest for NEO’s short-term trajectory.
NEO (NEO) Price Analysis for May 10, 2025
The trading session began with the NEO price at $6.30. Some bullish pressure ensued early, and the price climbed confidently to $6.40. The RSI indicated overbought conditions at this point. A trading range developed as the bulls and the bears failed to instigate a decisive trend. This narrow consolidation lasted till 3:00 UTC. At that point, a narrow death cross emerged on the MACD indicator, and the NEO price retraced to $6.25 by 6:15 UTC. The RSI was below the midline.
NEO/USDT, M-5 Chart, analyzed by raodevansh18, published on TradingView, May 10, 2025
At 6:200 UTC, a golden cross formed and widened in the coming 2 hours, leading to a sharp rise on the NEO price chart. The price rose rapidly to $6.70. Strong rejection followed at this point, and the NEO price slumped to $6.30 by 9:50 UTC. The bulls continued to persevere and pushed the price up to $6.60. Some correction occurred, but the NEO buyers led the price to $6.62 by 13:45 UTC. Another death cross formed at 13:55 UTC, and the price slumped to $6.38 in the next half an hour.
Some consolidation occurred at this price level, and the bulls were soon able to muster an upward NEO breakout at 17:00 UTC. Another range formed and met a similar fate. The upward breakout at 21:00 UTC. One more phase of consolidation occurred, going into the midnight with the NEO price at $6.54.
NEO Bulls Persevere, $6.7 Resistance Breached
In the initial hours of trading, the NEO price witnessed sustained bullish strength. The price went up rapidly to test the $6.7 resistance. The initial tests failed, but the price touched higher lows consistently while the resistance line stayed stable. A bullish triangle formation emerged, and soon enough, by 5:00 UTC, the price broke above the $6.7 mark. The bullish trend continued till 8:45 UTC, with the price testing the new resistance at $6.9. Since then, a potent reversal has taken place, with the price finding a bottom at $6.62. As of the latest update, NEO stands at $6.71.
$6.6 A Key Support. More Resistance Tests May Follow
If similar bullish pressure from the previous 24 hours persists, NEO looks primed to test the $6.9 resistance as of now. However, the correction seen today has been the most significant one in the last 12 hours, suggesting that the bears are also vying for control. A trading range may also form, given that the latest golden cross is already converging. With that in mind, a confirmed breakout below $6.6 could lead to the start of a bearish run for NEO. However, if it maintains this key support, the bulls may make something out of it.
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