NEO Price Analysis – March 15
After a period of bullish movement, the bears took full control of the market and lowered the price from $43.4 to $36.1.
Resistance levels: $50, $55, $60
Support levels: $30, $25, $20
NEO/USD keeps moving within the range as the coin is seen dropping below 9-day and 21-day moving averages. However, as the market opens today, the bulls fail to push the coin above the resistance level of $44 as it begins to show a sign of downward movement which may continue to cause a tremendous drop as the price breaks below the lower boundary of the channel.
Where is NEO Price Going Next?
The NEO market is currently moving sideways as the technical indicator RSI (14) keeps moving around the 50-level which is yet to slide below the lower boundary of the channel. Therefore, if the NEO/USD pair continues to stay under the control of bears, the price may roll back to previous supports at $30, $25, and $20. On the upside, traders may expect the next resistance levels to be located at $50, $55, and $60 respectively.
NEO/BTC Market; Price Keeps the Downtrend Intact
NEO/BTC is bearish as the daily chart reveals. The market price is forming a downward trend on the chart. The coin touches the low of 663 SAT today where bulls have successfully pushed the price above the 700 SAT, any further bullish movement could take the coin above the 9-day and 21-day moving averages to hit the resistance level of 800 SAT and above.
However, looking at the technical indicator RSI (14) on the daily chart, it appears that bears are still putting pressure on bulls as the signal line remains below the 40-level. Meanwhile, if bulls can regroup and halt the downward movement, The NEO price may begin an uptrend which may likely push the price to the resistance level of 800 SAT and above.