NEO / USD is bearish; Price May Look For Active Support – Cryptovibes.com – Daily Cryptocurrency and FX News
NEO Price Analysis – May 12th
Like all other altcoins, NEO is trading down in the crypto market.
NEO / USD market
Resistance Levels: $ 135, $ 145, $ 155
Support levels: $ 80, $ 70, $ 60
NEOUSD – daily chart
NEO / USD has resumed in the middle of consolidation as the coin falls below the $ 100 support. The price is now hovering around the $ 104 level. If the market continues and depresses the downturn, the USD 90 support is likely to appear in the next negative moves. Additionally, the NEO / USD pair may continue to look for lower price levels if the bears continue to show exposure.
Where is the NEO Prize going next?
NEO / USD is currently trading below the 9-day and 21-day moving averages as the Relative Strength Index (14) technical indicator prepares to drop below the 50 level. A look at the daily chart shows that trading volume is getting low.
Therefore, if the NEO / USD pair continues to be under the control of the bears, the price may slide back to the $ 80, 70 and 60 support. On the flip side, if the bulls step back into the market and push the coin above the 9-day MA, traders can expect resistance levels of $ 135, $ 145 and $ 155, respectively.
NEO / BTC market: consolidation within the moving averages
On the daily chart, NEO / BTC is tied to the range. While the price is on the downtrend on the daily chart, the bulls failed to push the coin higher. However, NEO / BTC is at the upper support line of channel consolidation. The bears have successfully pulled the price below the 9-day moving average and any further move could push the coin to the support level of 1700 SAT and below.
NEOBTC – daily chart
However, looking at the current relative strength (14) on the daily chart, it appears that the bears are still putting pressure on the bulls. If the bulls can regroup and stop the downward move, NEO price can start an uptrend and push price to the resistance level of 2300 SAT and above.