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NEO Price Analysis: Bulls are trying to recover, although SMA-20 is well behind the other SMA’s

  • NEO has a current circulating supply of 70,538,831 NEO coins and a max. supply of 100,000,000 NEO coins.
  • The token has shown the pattern of engulfing bearish in the last 24 hours.
  • The RSI oscillator for NEO shows the SELL action.
Tradingview

The last known price of the token, NEO, is 49.0100 and is up by 0.24% over the last 24 hours. It has the current trading volume(s) of 417,133,167 with a gain of 23.85% over the last 24 hours. NEO has total transactions of 99,546,199 with the active blocks of 7,966,546 in the last 24 hours and has wallets addresses of 2,881,688.

The chart above shows the movement of NEO where 20 DMA has been running below the other two SMA’s. We see the token with respect to SMA’s which are 20, 50 and 200 and it is SMA-20 which is behind one(SMA-200) SMA and also behind the other(SMA-50) in a four hours time frame. We see a downwards pattern where the bears’ win is visible. Although the candles are trying to move up. The trend line marked shows this downwards shifting. The candles forming now are about to touch the level of $50 and we could expect a hike in price in the coming time.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 44.819 and marks the sell action. MA-5, MA-10 shows the sell action whereas MA-20 shows the sell action. Even MA-100 and MA-200 show the same sell action. However, the NEO at present is all set to buy.

The bull/bear power has the value of -1.1017 and shows the sell action. The high/low marks the sell action with the value of -0.5829.

The NEO-BTC pair is trailing at the level of 0.001101 and the up by 1.99% was seen whereas the NEO-ETH pair is trailing at the level of 0.01584 and the gain of 1.16% was in the last 24 hours. The volume/market cap of the token is 0.12 and its market dominance is 0.17%.

Conclusion: The days range for the coin is 48.3400-51.9800 and presently is at 49.2500. The 24 hours high and low of the coin is 51.87 and 48.61 respectively. We observed that the candles forming now are trying to rise and in the coming time it might move higher. As the retracement is taking place, crypto holders are showing interest in it.

Technical Instruments:

Pivot: 49.0267

R-2: 49.4813

R-2: 49.7621

S-1: 48.5721

S-2: 48.2913

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour
Categories: News
Rajat Arya: Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.