NEO Price Analysis – June 13
NEO is facing downwards as the price moves toward the 9-day and 21-day moving averages.
Resistance levels: $75, $85, $95
Support levels: $25, $15, $5
NEO/USD has resumed back in the middle of consolidation as the coin rises to near $50. The price is now roaming around the $49 level. If the market continues the down-surge and squeeze, the, $30 is likely to surface in the next few negative moves. More so, the NEO price might further look for lower price levels if the bears continue to show commitment.
NEO Price Analysis: What to Expect from NEO
The NEO market is currently following the downward trend as the technical indicator Relative Strength Index (14) moves around 41-level. Taking a look at the daily chart, we can see that the trading volume is still very low. Therefore, if the NEO pair continues to stay under the control of bears, the price may roll back to previous supports at $25, $15, and $5. On the upside, we can expect the next resistance levels at $75, $85, and $95.
NEO/BTC Market: Consolidating to the Downside
Looking at the daily chart, NEO/BTC is bearish. The price forms a downward trend on the daily chart as it is around the lower boundary of the channel consolidating. The bears have successfully dragged the price below the 9-day and 21-day moving averages, any further movement could take the coin to the support levels of 1000 SAT and below.
However, looking at the current Relative Strength Index (14) indicator on the daily chart, it appeared that the bears are still putting pressure on the bulls. Meanwhile, if the bulls can regroup and halt the downward movement, The NEO price may begin an uptrend and push the price to the resistance level of 1600 SAT and above.