NEO Price Analysis – July 31
At the time of writing this, NEO/USD is trading at $12.09 after giving a fresh daily high at $12.28.
Resistance levels: $13.5, $14.0, $14.5
Support levels: $10.5, $10.0, $9.5
NEO/USD shows an impressive move as it forms a semi-circular trend and seems to be all set to hit above the given resistance and another high at $13.0. They retained support at $11.5 may likely help the coin from further breakdown as the volatility subsides.
For a positive peak, the $13.5, $14.0, and $14.5 are the main resistance levels for the coin at the moment. Looking at the trading volume, traders may see the NEO at its lowest. As a result, a negative spike could test significant support at $10.5 and $10.0 before a slippage of $9.5. 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 40-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 980 SAT and 950 SAT respectively.
However, as the technical indicator faces 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 1150 SAT and 1180 SAT. But come to think of it, breaking the mentioned resistance level may likely give the NEO price a new high.