NEO is currently experiencing a severe decline in price as the market data indicates. After April 4, 2023, the bulls had tried to bring up the price levels but were unsuccessful. Price levels have dropped to $12.01, according to the latest NEO price analysis. This drop has caused the Relative Strength Index (RSI) score to dip to 49 and the Bollinger bands to converge. It is also visible that more bearish than bullish activity is taking place in the market with multiple red candlesticks appearing. The moving averages recorded an average at $12.13 giving an overall downward impression. The greatest resistance has been seen at $13.17 while the strongest support has been at $11.59 according to the 4-hour NEO price analysis.

The current market conditions have turned grave as the market volatility has increased and the value decrease continues with hardly any support. NEO/USD is close to the support level at $11.57, which offers some possibility of recovery. As long as the currency remains in the bearish region there is a chance of further decline; it is important for investors to acknowledge the deteriorating position. On the other hand, a rise in the RSI score to above 50 can be taken as a good sign for the market and provide hope for recovery in the future.



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