NEO Price Is Targeting $19 Resistance Level     

NEO Price Is Targeting $19 Resistance Level     

NEO Price Analysis – January 04

 Further increase in the bulls’ momentum will place the price at the $19 resistance level. The breakup of the just mentioned level will expose the price to the $22 and $25 resistance levels. Below the current price level of NEO are support levels at$15, $13, and $12.  

NEO/USD Market
 Key Levels:

Resistance levels: $19, $22, $25

Support levels: $15, $13, $12

NEO/USD Long-term Trend – Bullish

 On the long-term outlook, NEOUSD is bullish. The price was on the bearish movement two weeks ago. The bearish movement dropped the price at the support level of $13, The bulls did not allow the price to reduce further, a strong daily bullish candle emerges at the $13 support level and this is returning the price towards the resistance level of $19. The former resistance level of $15 is already penetrated upside and the price is aiming at the $19 level.

NEOUSD Daily chart, January 04

Today, the coin has broken up the two EMAs upside and it is trading above 9 periods EMA and 21 periods EMA which indicates that the bulls are taken over the market. Further increase in the bulls’ momentum will place the price at the $19 resistance level. The breakup of the just mentioned level will expose the price to the $22 and $25 resistance levels. Below the current price level of NEO are support levels at$15, $13, and $12.  

 NEO/USD Medium-term Trend – Bullish

 On the 4-hour chart, NEOUSD is bullish. The coin was consolidating within the $13 and $15 price levels last week. Yesterday, the bulls’ pressure increased and the price breaks up the resistance level of $15. It is increasing towards the $19 level.  

NEOUSD 4 hour chart, January 04

Today, the coin carries out a retest to the broken level of $15. The 9 periods EMA and the 21 periods EMA withstand the price as a dynamic support level. The price is trading above the two EMAs which indicates that the bulls are taking over the NEO market. The relative strength index period 14 is displaying a buy signal in the NEO market.  

 

 

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.