NEO Price Analysis – November 14
NEO/USD has reflected a pretty impressive price movement over the past few days although there might be some withdrawals, the coin will still struggle to move up.
Resistance levels: $14.0, $15.0, $16.0
Support levels: $10.0, $9.0, $8.0
Since the beginning of this month, NEO/USD coin has maintained a steady trend except for today that the coin value is falling drastically to as low as $12.43. The coin has recorded a tremendous uptrend in this new month rising from $10.49 to $13.18. Despite the setback, this coin may continue moving up again in the near future.
NEO started the year trading at $7.55 and moved up to cross $18 in July. The coin started this month trading at $10.49 and may likely move up to the resistance levels of $14.0, $15.0 and $16.0 in the next few weeks if the bulls can put more pressure. Conversely, as it stands now, the coin is still moving above the 9-day and 21-day MA but the bears may bring the price to reach the supports at $10.0, $9.0 and $8.0 but the MACD signal lines are still on the positive side.
Comparing with BTC, NEO is still bullish and the price is forming within an ascending channel. As it is now, the price is at the upper resistance line of the channel consolidating. The bulls pushed the price upward to touch the 1503 SAT yesterday but they could not maintain the trend as the price is facing downward, currently trading at 1467 SAT.
However, the Stochastic RSI on the daily chart is about entering into the overbought which reveals that the bulls may continue the upward movement but just for a moment and should the bulls fail to do this, the price may fall to the support levels of 1250 SAT and below. More so, if the market continues the upward movement, NEO/BTC may rise to touch the resistance levels of 1600 SAT and above.
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