NEO Price Analysis – October 11
As reveals by the daily chart, the NEO price cannot be stopped as the bull’s aim at $50 resistance level.
Resistance levels: $55, $57, $59
Support levels: $38, $36, $34
NEO/USD price is now trading close to $50 as it hovers around the $45 resistance level at the time of writing. The NEO price may continue to move upwards if the price cross above the 9-day moving average. Meanwhile, NEO/USD begins the week on a better note as the price touches the resistance level of $47
NEO Price Analysis: NEO Price May Move Sideways
The NEO price remains within the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) moves around 50-level forming a sideways movement. Meanwhile, the NEO price may cross to the negative side once it faces down and there is a higher chance that the coin may likely find supports at $38, $36, and $34 but if the price moves toward the upper boundary of the channel, the coin may locate the potential resistance levels at $55, $57, and $59 respectively.
NEO/BTC Market: NEO Price Keeps Following the Downtrend
Against Bitcoin, the recent price decline places the NEO in a downward trend and the price is likely to cross below the lower boundary of the channel. Looking at a long-term bear market, the 700 SAT and below could provide support level for the next selling pressure as the technical indicator Relative Strength Index (14) could cross into the oversold region.
Today, the NEO price falls to the daily low of 793 SAT following a sudden rise in the downtrend. Now, traders may say that the bears may return back into the market if the bulls failed to hold the support of 795 SAT. However, if the support level of 750 SAT can act as a solid line of defense against any further downtrend; the resistance levels of 900 SAT, 950 SAT and 1000 SAT may come to play.