Neo (NEO) Prices Failing To Maintain Sustainability Above $6.80

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • NEO prices are reflecting bearish momentum, showing signs for further downfall in the prices of the cryptocurrency as NEO is failing to maintain
  • The NEO/BTC pair is performing positively with the gain of 3.01% bringing the level to 0.00105780.

The bulls have strong support of $6.50, which will be soon tested as NEO prices acquired a negative momentum. There might be chances that this support level can be the key figure. If this support level won’t be able to hold the prices, there will be heavy bearish dominance.

The prices managed to climb back and did make a recovery. NEO prices are chasing after the crucial resistance level of $7.30 which pushed them down last time but today prices fall against the price level of 7.00. As they are unable to find stability above the level of $6.80 to maintain the climb.

The market capitalization of NEO is $473,457,967  USD with volume traded of $ 464,315,035 USD and a circulating supply of 70,538,831 NEO.

NEO Price Analysis

NEO
Source:tradingview

Technical chart indicates that bears are taking back the market from the bulls and emerging with a strong presence, the chart also indicates that current stats can be an indication for further downfall as there is the sharp negative divergence in some aspects.

NEO prices are again falling to bearish zone as are trying their best to stop themselves from falling below after loosing there gradual climb at the price level of $6.80.

MACD level indicates that there is a slight increase in the buying volume of NEO which is a positive sign for the altcoin .

24hr-RSI falling down towards the bearish zone from the bullish zone in the buying level, currently it is trading right above the level of 50 with a negative divergence.

The 24hr-CCI has entered the normal zone with a bearish momentum from the top of the over buying region.

Resistance Level: $ 7.00
Support Level: $ 6.50

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