- Neo Coin price is trying to regain its short-term moving average line of 20-day SMA while failing to suppress its vital moving averages of 50, 100, and 200-day lines.
- The digital asset price witnesses strong growth from lower levels, but the volume activity is comparatively lower at the monthly time frame.
- The pair of NEO/BTC is trading at 0.0009083 BTC with a 24-hour loss of -3.82%, and the ratio of NEO/ETH is CMP at 0.01288 ETH with an intraday loss of -2.44%.
Neo coin is trading on a bullish note, after a sharp decline from the higher levels. Whereas, presently the crypto asset is struggling near its short-term moving average of the 20-day line. With supportive volume activity, the bull still needs to suppress its vital moving average lines of 50, 100, and 200-day lines. Once the NEO Bulls manage to sustain above its all central MA with supportive volume action, we can soon see the good upside.
Volume activity over the monthly chart is lower and needs to grow strongly in upcoming trading sessions for sustainable gains. Support on the lower side is $38.80 and $35.60, whereas resistance on the higher side is $47.51 and $53.25.
Neo coin at the weekly chart fails to suppress its supply zone on the higher side
Neo coin at the weekly chart fails to suppress its major supply zone on the higher side. After a strong bullish rally from the lower levels, the coin is trading sideways and fails to clear the resistance zone. At the same time, the volume activity over the weekly chart is lower and needs to grow strongly for upcoming trading sessions. NEO token is trading at $43.69 with an intraday loss of -4.28%, and the volume to market cap ratio is 0.09453.
Relative Strength Index (NEUTRAL): NEO coin RSI is trading flat after a gradual selloff from the overbought levels. The coin is currently trading sideways in the neutral zone and CMP at 58.
Moving Average Convergence Divergence (BEARISH): The daily chart indicates a bearish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is trading under pressure, while the seller’s line overpowers.
Support levels: $38.80 and $35.60
Resistance levels: $47.51 and $53.25