- The NEO crypto coin is nearing a drastic fall as it hit the resistance level and sank to new lows from the current support zone.
- The current market price of NEO Crypto coin is $12.01 and has an intraday loss of 6.59%.
Neo is a blockchain platform that is on a mission to create a very Smart Economy, where digital assets and identities are only managed by its smart contracts.
Neo, which is an open-source and community-driven project has recently been upgraded to the N3, which is seen as the most powerful and feature-rich version of its protocol.
Moreover, N3 offers a full stack of features out of the box, such as native interoperability, oracles, decentralized storage, and self-sovereign identity.
N3 also has a highly modular architecture, enhanced governance, and an economic model. NEO is the governance token that allows holders to participate in the network’s decision-making and receive passive distribution of GAS, the utility token.
Neo has a global and very diverse community of contributors, including creative developers, partners, and strong investors.
Furthermore, Neo is on a mission to build a secure and scalable blockchain ecosystem that can power the decentralized world.
Can NEO Shoot Upside or Keep The Price Fall Continue?
The NEO crypto is expressing bullish as It has attained good performance in the last month by 8.09%, and in three months by 64.51%.
However, the scenario has been flipped from the last week as the NEO crypto asset is showing bearish signs after plummeting 7.25% weekly and exhibiting the potential to fall further.
The NEO coin is bearish and has more room to fall as it drops below the major 20-day trend EMA. Depending on the sellers’ surge, it could breach supporting EMA as well.
The NEO is demonstrating bearish potential and the RSI is decreasing gradually, signifying that the asset is losing traction and can reach new lows.
Now, it seems like the NEO crypto coin is nearing a drastic fall, as it hits the resistance level and sinks to new lows from the current support zone.
Moreover, the NEO crypto demonstrated a sign of decline as the price sank from a vital level of around $14 on the charts.
The current market price of the NEO coin is $12.01 and has an intraday loss of 6.59%.
If the price slips more traction, the bears can dominate the bulls and take control of the price. It can trigger a massive downfall, which can lead the price to $10.
Alternatively, if the price sustains, the coin could shoot up to $15 as well and go beyond that level as well.
Summary
The NEO crypto is expressing bullishness as It has attained good performance in the last month by 8.09% and in three months by 64.51%.
However, the scenario has been flipped from the last week as the NEO crypto asset is showing bearish signs after plummeting 7.25% weekly and exhibiting the potential to fall further.
Now it seems like the NEO crypto coin is nearing a drastic fall as it hits the resistance level and sinks to new lows from the current support zone.
Technical Levels
Support Levels: $10
Resistance Levels: $15
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.