NEO Price Analysis – February 11
NEO has been falling in the price since yesterday. The coin fell slightly and wasn’t showing any sign of recovery at the moment.
Resistance levels: $16.0, $17.0, $18.0
Support levels: $12.0, $11.0, $10.0
Today, NEO has resumed back in the middle of consolidation as the coin drops to near the $13.0. The price is now roaming around the $13.15 level. If the market continues the down-surge and squeeze, the, $13.0 is likely to surface in the next few negative moves. More so, the NEO/USD pair might further look for lower price levels if the bears continue to show commitment.
However, the market is currently following the downward trend as the technical indicator RSI (14) nosedives towards 60-level. Taking a look at the daily chart, we can see the trading volume is becoming low. If the NEO/USD pair continues to stay under the control of bears, the price may roll back to previous supports at $12.0, $11.0 and $10.0 levels. On the upside, we can expect the next resistance levels at $16.0, $17.0 and $18.0.
Comparing with Bitcoin, NEO performance is becoming low due to a recurring bearish sentiment which has caused the market to fall slightly. In other words, the price has been moving up and down since last month. The market is currently following the downtrend but the traders have to be on the watch for the possible positive directions in the market soon.
For a positive upsurge, the 1450 SAT and 1500 SAT are the major resistance levels for the coin for now. Looking at the current movement of the market, it is revealed NEO focuses at the south as RSI (14) has crossed below the 60-level. Therefore, a negative spike could retest the important support at 1250 SAT and 1200 SAT before a possible slip to 1150 SAT.
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