- NEO coin price is trading below the major moving averages of 200-day lines, while at the same time the short-term DMAs are heading for a negative crossover.
- The crypto asset above the monthly chart trades below all major moving averages of the 20, 50, 100 and 200 day lines with below average volume action.
- The NEO / BTC pair is trading under the pressure of -3.85% CMP at 0.0009913 BTC, and the NEO / ETH ratio is CMP at 0.01418 ETH with an intraday dip of -1.85%.
Trade view
NEO The coin price is trading in bearish territory while the coin has slid below the central moving average of the 200-day line. Currently, the digital asset is unable to hold its necessary 20, 50, 100 and 200 day moving averages. The volume on the monthly chart is lower, falling below the average line that needs to grow for a strong reversal.
In the meantime, the short-term moving averages of the 20- and 50-day lines are moving towards the 100- and 200-day lines, while the crossover may lead to another sell-off. If the coin fails to regain its 100 and 200 day lines with supportive volume activity, we can expect further downward moves in the coming trading sessions. Support on the lower side is at $ 44.35 and $ 41.45, while resistance on the higher side is at $ 53.15 and $ 57.35.
The NEO coin is on the weekly chart near the make or break levels
Trade view
NEO Coin is near the make or break level on the weekly chart after falling sharply from the higher levels. On the other hand, the technical parameters are reaching the oversold area and a recovery is expected in the near term. Meanwhile, volume activity above the chart is lower and requires strong growth for a short term recovery. NEO is trading at $ 44.81 with -9.42% intraday action and its volume to market cap ratio is 0.1158
Relative Strength Index (OVER SOLD): NEO Coin RSI is trading flat near the oversold zone on the weekly chart. In contrast, the RSI is trading sideways after a sharp decline from the higher side and a small pullback is expected, CMP at 28.
Moving average convergence divergence (BEARISH): The daily chart shows a bearish trend in the 4 hour timeframe. At the same time, the seller’s line (red) overwhelms the buyer’s signal line (green) with a negative crossover.
Support levels: $ 44.35 and $ 41.45
Resistance Levels: $ 53.15 and $ 57.35.
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