NEO Price Analysis – April 20
NEO is experiencing a fall in the price from the upward trend. The cryptocurrency fell today after touching $7.86.
Resistance levels: $9.5, $10.0, $10.5
Support levels: $5.5, $5.0, $4.5
NEO/USD is still in the middle of consolidation as the coin drops to near the $7.09. Looking at the daily chart, the NEO price is now hovering around the $7.2 level. If the market continues the down-surge and squeeze, the, $7.0 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.
Moreover, the market may be following the downward trend as the technical indicator RSI (14) moves below 48-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 to the supports at $5.5, $5.0 and $4.5 levels. On the upside, we can expect the next resistance levels at $9.5, $10.0 and $10.5.
Against 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 for the last few weeks. The market is currently following the uptrend but traders have to be on the watch for the possible positive directions in the market soon.
Meanwhile, for a positive upsurge, the 1130 SAT and 1160 SAT are the major resistance levels for the coin for now. Looking at the current movement of the market, it is revealed that NEO/BTC focuses at the south as RSI (14) moves to touch the 40-level. Therefore, a negative spike could retest the important support at 1000 SAT and 970 SAT.
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