NEO Price Analysis – January 10
At the time of writing, NEO is trading at $25.40 after giving a fresh daily high at $28.55.
NEO/USD Market
Key Levels:
Resistance levels: $30, $32, $34
Support levels: $18, $16, $14
Unlike a few other altcoins, NEO/USD retains support around 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 daily high at $28.55. Meanwhile, the support level below the moving averages may likely help the coin from further breakdown as the volatility subsides.
What to Expect from NEO
For a positive peak, the $30, $32, and $34 are the main resistance levels for the coin at the moment. Looking at the trading volume, traders can see the NEO at its highest. Meanwhile, a negative spike could test significant support at $18 and $16 before a slippage of $14. More so, NEO/USD is bullish in the long run as the RSI (14) is currently moving within the overbought region.
NEO/BTC Market: Remains at the Downside
Against Bitcoin, the price is consolidating above the moving averages of 9-day and 21-day as the RSI (14) moves above 50-level while the current movement may end bullishly. However, a possible drop may likely surface and break below the moving averages if the coin could reach the support levels of 300 SAT and 200 SAT respectively.
However, as the technical indicates an upward movement, the market might experience some form of the bullish trend by crossing above the upper boundary of the channel and this could push the price to the resistance levels of 900 SAT and 1000 SAT. But come to think of it, breaking the mentioned resistance level may likely give the NEO price a new high against BTC.
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