NEO Price Analysis – March 25
Just like any other altcoins in the crypto market, NEO/USD keeps trading below the moving averages.
Resistance levels: $45, $47, $49
Support levels: $34, $32, $30
NEO/USD is resuming back in the middle of consolidation as the coin drops to near $37.11. The price is now roaming around the $39.60 level. If the market continues the down-surge and squeeze, the $35 is likely to surface in the next few negative moves. Moreover, the coin might further look for lower price levels if the bears continue to show commitment within the market.
What to Expect from NEO
The market is currently following a downward trend as the technical indicator RSI (14) moves below the 50-level. Taking a look at the daily chart, we can see that the trading volume is becoming low in the market. If the NEO/USD pair continues to stay under the control of bears, the price may roll to the previous supports at $34, $32, and $30 levels. On the upside, traders may expect the next resistance levels at $45, $43, and $41.
NEO/BTC Market: Consolidating to the Downside
Looking at the daily chart, NEO/BTC is bearish. The price continues to follow a downward trend on the chart. It is trading at the upper boundary of the channel. The bears are successfully dragging the price within the 9-day and 21-day moving averages, therefore, any further movement below the moving averages could take the coin to the support levels of 650 SAT and below.
However, looking at the technical indicator RSI (14) on the daily chart, it appears that the market may continue to move sideways as the single line moves in the same direction above 50-level. Meanwhile, if the bulls regroup and hold the downward movement, The NEO price may begin an uptrend and could push the price above the upper boundary of the channel and move towards the resistance levels of 850 SAT and above.