Neo(NEO) Price Analysis: Neo Moving Along With Bears, Bearing Loss

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • NEO moving along with the global market in a bearish approach. As its really suffering a heavy fall in the prices. NEO broke all support levels and fall down the lowest price possible.
  • The NEO/BTC pair performing positive with a profit of 0.76% but there is a price fall of -11.63% in an altcoin.

NEO1

The seven-day chart shows a continuous downfall in the prices. It’s going along with the global market but today just after opening, NEO took a major bearish approach and started dropping to the lowest limit possible.

After reaching the lowest limit possible, it took a sharp positive boom towards the normal but just after touching it, again it started falling. Many times it switched places between both zones.

The NEO/BTC pair performing positive with the profit of 0.76%. The market capital is $414,504,163 with trading volume of $765,890,196 with cumulative  supply of 70,538,831. There is a change in the price of -11.63%.

NEO Technical Analysis:  

NEO2

In the technical chart, we can see that there is a gradual fall in NEO’s price as it is continuously falling. Many market factors are responsible for this. As there is a heavy selling volume in the market the prices of cryptocurrency is keep on falling.

Crypto investors will be keeping a sharp eye on tomorrow’s market as they are very much concerned with the continuous fall in alt coin’s prices. The technical indicators and oscillators are indicating a heavy selling volume of the altcoin.

The MACD levels are facing heavy bearish dominance with a heavy selling volume. Many times it tried to have a bullish approach but bears didn’t allow. The RSI had negative divergence from the positive zone which led to the lowest point possible. After that altcoin was unable to reach the normal level.

CCI went lowest to the lowest point possible in the oversold region with very sharp divergence and barely made it to normal.

Resistance level: 7.00

Support level: 5.00

 

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