NEO Price Is Ranging Within $19 and $15 Levels  

22 December 2020 | Updated: 22 December 2020
NEO Price Analysis – December 22

 The breakout at the resistance level of $19 may push the price to $22 and $25 price level. Likewise, the breakdown of the $15 price level will reduce the price to $13 and $12 price level.

 NEO/USD Market
 Key Levels:

Resistance levels: $19, $22, $25

Support levels: $15, $13, $12

 NEO/USD Long-term Trend – Ranging

 NEOUSD is on the ranging mode in the long-term outlook. The ranging movement started last two weeks. the price was moving within the resistance level of $19 and support level of $15. The bears are testing the support level at $15 for the second time. The price level of $19 has been tested twice also. The two levels hold the price and it is ranging within the levels. The ranging movement will continue until there is a breakout either at the $19 level or $15 level. 

NEOUSD Daily chart, December 22

The coin is trading around the two EMAs and the 9 periods EMA and 21 periods EMA are interlocked to each other which indicates that the market is not trending. The breakout at the resistance level of $19 may push the price to $22 and $25 price level. Likewise, the breakdown of the $15 price level will reduce the price to $13 and $12 price level.

 NEO/USD Medium-term Trend – Bearish

 NEOUSD is bearish on the 4-hour chart. The coin found support at the $15 price level last week. The level holds the price and it bounced with the formation of a bullish engulfing candle pattern. The price increases towards the resistance level of $19. The bull’s momentum became weak and the price changes the direction towards the south to retest the former low at $15.  

NEOUSD 4-hour chart, December 22

The 9 periods EMA is separated from 21 periods EMA and the price is trading below the two EMAs which indicates that the bears are in control of the NEO market this week. The relative strength index period 14 is bending down at 40 levels to indicate a sell signal.  

 

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.