Neo Price Bull’s Collapsed, Bears Are Emerging With Heavy Dominance

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.
  • TNEO prices are reflecting bearish dominance, and the altcoin is making a significant and continuous downfall in the prices.
  • The NEO/BTC pair is performing negatively with the loss of -6.18%, bringing the level to 0.00102406.
  • Prices are in a position to lose their current support level.

NEO Price bears are applying heavy pressure on the strong support of $9.00, which was allowing prices to move up with and ease.

There might be chances that this support level can be denied and soon will be broke down by the bears as negative trade will soon be at its peak.

NEO Prices are suffering a fall but manage once not to lose the current support level, but again they are back to it. Now prices are moving towards the level of $8.80.

As if they lose the support level of  $9.00, then the level of $8.80 will be their only hope, as soon it will collapse against the current resistance and negative trade.

The market capitalization of NEO is $637,273,382, with volume traded of $906,492,463 and a circulating supply of 70,538,831 NEO.

NEO Price Analysis 

neo1
Source: tradingview

The technical chart indicates that a sudden bearish trend has emerged in the prices. It also demonstrates that current stats can be an indication for the further downfall.

NEO prices are falling with strong bearish momentum as they are trying their best to stop them, but they end up losing the level of $9.00

The NEO Technical indicators and oscillators are still turning blue as there is a positive trade that can again emerge in the prices of the cryptocurrency.

MACD level indicates that there is an increase in the selling volume of NEO, which is a negative sign for altcoin, negative trade in the prices is emerging strongly along with the bears and soon can overtake this aspect completely.

24hr-RSI is falling from the strong bullish zone to the fundamental level. Currently, it is trading between levels of 55 and 50.

The 24hr-CCI down falling sharply with a sharp negative divergence, bears are developing the potential to acquire the aspect as the prices long lose the over buying region.

Resistance Level: $ 9.20

Support Level: $ 9.00

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