NEO Price Analysis – January 30
NEO, at the time of writing this, was trading at $11.71 after giving a fresh 30-day high at $12.42.
Resistance levels: $12.5, $13.0, $13.5
Support levels: $10.0, $9.5, $9.0
Unlike a few other altcoins, NEO/USD retains support from the 9-day and 21-day moving averages and it’s expected to beat even higher. More so, NEO shows an impressive move as it forms a semi-circular trend and seems to be all set to hit above the given resistance and 30-day high at $12.34. The retained support may likely help the coin from further breakdown as the volatility subsides.
For a positive peak, the $12.6, $13.0 and $13.5 are the main resistance levels for the coin at the moment. Looking at the trading volume, traders can see the NEO at its lowest. As a result, a negative spike could test significant support at $10.0 and $9.5 before a slippage of $9.0. More so, NEO/USD is bullish in the long run as the RSI (14) is currently moving towards the overbought zone.
Against Bitcoin, the price is consolidating below the moving averages of 9-day and 21-day as the RSI (14) moves above 45-level while the current movement may end bullishly. Nevertheless, a possible drop may likely surface and break below the channel as the coin could reach the support levels of 1110 SAT and 1050 SAT respectively.
However, as the technical indicates an upward movement, the market might experience some form of the bullish trend by crossing above the moving averages and this could push the price to the resistance levels of 1330 SAT and 1380 SAT. But come to think of it, breaking the mentioned resistance level may likely give the NEO price a new high.
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