Technical Analysis

NEO price touches $12.92, Next Support Level to Look For is $12

NEO Coin

NEO price over the past 5 days will provide more insight into the current movement of the coin. NEO started off with $9.86 on 17-July-19 at about 02:50 UTC. Post the said date, it is gradually and slowly started rising upwards. NEO reached as high as $13.80 at 16:45 UTC three days later, On 20-July-19. However, it could not maintain the upward movement and started receding. From the past two days, the coin is falling at a marginal rate. We anticipate that the current trend of the coin may continue for another week or so post which it would start rising upwards.

Comparing the prices of the NEO coin since 20-July-19 where the price was $13.80 and today’s price, the coin is reflecting a bearish trend by 6%. Observing the current trend of NEO, it may continue to remain bearish for about a week or so. Prices may touch $12.92 by tomorrow and may reach its immediate support level of $12.48 by this week. By the beginning of the next month, if the NEO price shows positive progress, it may reach its first resistance level of $13.50.

Looking at the current price trend, it is advisable to sell the existing NEO coins in hand as prices may drop marginally. You may also purchase new coins after about a few days’ time, and it is recommended to sustain the new coins for a longer period. A number of coins being traded in the digital world are on the neutral arena. The MACD indicator points to the fact that the current movement of the coin is downwards. The scenario is expected to change shortly with NEO proving its worth.

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James Pope
James Pope is a chief editor of our team. He has keen interest in finance news and loves reading finance news in his free time. He is a avid traveler.

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