NEO Price Analysis – June 22
NEO, at the time of writing this, is trading at $10.77 after giving a fresh daily high at $10.97.
NEO/USD Market
Key Levels:
Resistance levels: $12.0, $12.5, $13.0
Support levels: $9.0, $8.5, $8.0
Unlike a few other altcoins, NEO/USD retains the bullish trend above the 9-day moving average and it’s expected to beat even higher. However, 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 daily high at $10.97. Meanwhile, the retained support may likely help the coin from further breakdown as the volatility subsides.
For a positive peak, the $12.0, $12.5, and $13.0 are the main resistance levels for the coin at the moment. Looking at the trading volume, traders can see the NEO coming up little by little. In other words, a negative spike could test significant support at $9.0 and $8.5 before a slippage of $8.0. More so, NEO/USD is bullish in the long run as the RSI (14) is currently moving towards 50-level.
NEO/BTC Market
Against Bitcoin, the NEO pair is still bullish and the price is forming within an ascending channel. The daily chart reveals that the price is around the 9-day moving average within the channel consolidating. The bulls pushed the price upward to touch the 1139 SAT but they could not maintain the trend as the price reversed.
However, the RSI (14) on the daily chart is about facing the north which as the bulls may continue the upward movement but maybe for a moment, and should the bulls fail to do this, the price may fall to the support levels of 1020 SAT and below. More so, if the market continues the upward movement, NEO/BTC may rise to touch the resistance levels of 1200 SAT and above.
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