What is Next Movement by NEO? Trading at $15.41 Rise up by 4.26%

  • NEO is continuously in the bearish momentum and making a new monthly low of $14.11 currently gaining 4.26% in the last 24-hours
  • The pair of NEO/BTC also performed well standing at 0.00113882 BTC and up by 5.61%
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Source:tradingview

 Analyzing the monthly chart, NEO is in a bearish momentum and slipped sharply after testing the level of $25.94 as the monthly high. However, it also tries to recover but fails to do that. On the other hand, it gives the breakdown from the head and shoulder pattern observed over the monthly chart.

The coin is currently trading at the level of $15.41 with an increment of 4.26% in the last 24-hours, while over the weekly chart it drops by -13.67%. The volume traded in the last 24-hours is $408,281,793 and the market capitalization stands at $1,080,853,431. The support for the coin is at $14.11 and $9.65. On the other hand, the resistance over the chart is placed at fib level 0.382 ($18.33) and fib 0.5 ($19.68).

2
Source:tradingview
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The Relative Strength Index (RSI) of the coin is trading at 50.84, however, it gets recovered from the oversold region and targeting the bullish region but gets sharply corrects from the upper level indicating that the coin is unable to sustain on the higher levels. 

The Commodity Channel Index (CCI) forms the round bottom pattern over the chart and after testing the oversold region it recovers and gets sharp positive divergence towards the overbought region, however, fails to sustain in the bullish zone and gets sharply corrected from there. 

3
Source:tradingview

The Moving Average Convergence & Divergence (MACD) is running parallel to the red and blue line after the negative crossover indicating no sign of recovery in the coin, however, it gives a positive crossover after making low and now targeting the bullish zone. 

Support level: $14.11 and $9.65 

Resistance level: $18.33 and $19.68 

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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