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- NEO prices are reflecting heavy bearish momentum, the prices of the cryptocurrency are struggling to put a halt against the fall.
- The NEO/BTC pair is performing negatively with the loss of -0.59% bringing the level to 0.00106436.
Currently, bulls are relying on the strong support of $7.50, which was tested to its core after trading with lots of variations near this support level, prices made this level prone for a collapse as it is unable to provide an upsurge.
NEO prices acquired heavy negative momentum after acquiring some variations only to fall again, this pattern repeated itself many times till the price level of $7.75 collapsed.
The prices managed to climb up but above there is a heavy resistance level present at the zone of $8.00 which pushed prices down many times. As Prices did acquire a negative momentum and did break the price level, prices might lose the level of $7.50 and then they will fall and $6.00 will be their last hope.
The market capitalization of NEO is USD 530,693,912 with volume traded of USD 461,907,186 and a circulating supply of 70,538,831 NEO.
Neo (NEO) Price Analysis
The technical chart indicates that bulls might emerge strongly in the market as there is a positive trade is peeking out, the chart also indicates that current stats are indicating further downfall if prices didn’t adopt the positive trade soon.
The technical indicators and oscillators are turning red which is a bad indication as prices won’t be able to pull off a strong uprise.
MACD level indicates that there is an increase in the selling of NEO, there was some positive trade but shortly it faded away which is a bad sign for the Altcoin.
24hr-RSI was driving towards the heavy bearish zone from the normal zone, currently, it is trading right above the level of 40 with a slight positive divergence.
The 24hr-CCI entered the overselling region from the normal zone after facing heavy volatility and trading with a sharp negative divergence but currently, it reaches back to the normal zone with a slight uprise.
Resistance Level: $ 7.75
Support Level: $ 7.50
