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NEO Price Analysis: NEO Could Find Upward Trends in the Next Few Days

NEO Price Analysis – July 29

Yesterday, NEO closed trading at $11.25, but the lowest recorded value of the coin was $10.81. NEO has gained some pace now and may move up soon to cross $12 again.

NEO/USD Market

Key Levels:
Resistance levels: $14.5, $15, $15.5
Support levels: $7.5, $7, $6.5

NEOUSD – Daily Chart

Since yesterday, NEO coin has maintained a steady trend except around midnight when the coin value fell drastically to as low as $10.5. The coin has recorded an uptrend of over 0.2% in the last one day rising from $11.28 to $11.31. It may also start moving up again in the near future.

NEO started the year trading at $7.55 and moved up to cross $18 in the last 30 days. The coin started this month trading at $16 and has not made much progress since then. It may likely move up to the supply levels of $14.5, $15 and $15.5 in the next few months if the firm is able to crack some key partnerships. Conversely, the price could fall below July 17 low to reach the demands at $7.5, $7 and $6.5 as RSI moves below level 40 and MACD on the negative side.

NEO/BTC Market

For the past few months, NEO performance has been very low due to a recurring bearish sentiment which has slipped the market to a monthly low at 1080SAT weeks back. While the price actions remain choppy, let’s be on the watch for the possible NEO’s direction.

NEOBTC – Daily Chart

For a positive spike, the 1300SAT and 1400SAT are the major supply levels for the token for now. Taking a look at the chart, we can see the NEO at its lowest. Therefore, a negative spike will retest important demand at the 1080SAT and 1030SAT before a possible slip to 1000SAT. Still, the NEO/BTC pair is bearish on a long–term. The stochastic RSI has already crossed to the overbought zone (above level 80). We may likely see a positive move if it remains above the mentioned level.

Please note: insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.