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NEO/USD Trades Around $44.5 Level – Cryptovibes.com – Daily Cryptocurrency and FX News

NEO Price Analysis


NEO Price Analysis – October 23

After touching the daily high of $45.43, the bears are likely to come back into the market by lowering the price below $40 level.

NEO/USD Market

Key Levels:

Resistance levels: $55, $60, $65

Support levels: $35, $30, $25

NEOUSD – Daily Chart

According to the daily chart, NEO/USD may plunge to the support level of $40 as the coin moves sideways, while this could amount to a price change of 0.06%. However, the technical indicator Relative Strength Index (14) is also trading around 50-level as the trend could favour the bears. However, the $40 support level could provide support for the market if the selling pressure continues.

NEO Price Analysis: NEO Price May Begin the Upward Movement

NEO/USD is currently trading at a price level of $44.5. At the time of writing, the price action is moving within the 9-day and 21-day moving averages on the daily chart. Therefore, if $40 can act as a support level, the NEO price may test the potential resistance again at $55, $60, and $65 respectively.

For now, there is no serious sign of bullish movement according to the technical indicator reveals. The main supports for this market could be located at $35, $30, and $25 as the Relative Strength Index (14) is likely to cross below 50-level to begin the bearish movement.

NEO/BTC Market: Bulls May Push the Price Up

Against Bitcoin, the NEO price is trading above the 9-day and 21-day moving averages as the coin begins to face the upward movement. On the contrary, if the bears continue to introduce more pressure into the market, NEO/BTC may likely hit the critical support at 650 SAT and below.

NEOBTC – Daily Chart

However, the Relative Strength Index (14) shows that the market may begin an upward movement as the signal line is likely to cross above 40-level as traders may need to wait for the confirmation of the bullish movement. Meanwhile, a reversal might come to play if the key support of 700 SAT could hold the price and there might be a bull-run towards the next resistance level of 800 SAT and above.



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