NEO/USD Trades Above $24 Resistance – Cryptovibes.com – Daily Cryptocurrency and FX News
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NEO Price Analysis – March 23
The NEO price is trading tremendously as the market keeps following the bullish movement.
NEO/USD Market
Key Levels:
Resistance levels: $30, $32, $34
Support levels: $20, $18, $16
According to the daily chart, NEO/USD is moving up as the coin took a leap after having a few days of consecutive bullish trends and now dealing at $24.53 at the time of writing. The NEO price began an upward movement a few days ago where it moved from $19.3 and continued until today that it gives a surprising upsurge in the market by touching $25 in the early hours of today.
NEO Price Analysis: NEO Price May Reflect More Gains
The NEO price is currently trading above the 9-day and 21-day moving averages as the coin moves toward the upper boundary of the channel. However, in the scenario where it maintains the upward movement above the 9-day and 21-day moving averages, any additional bullish movement may cause the coin to hit the resistance levels of $30, $32, and $34. Conversely, the sellers may have critical supports at $20, $18, and $16 as the technical indicator Relative Strength Index (14) moves to cross into the overbought region to confirm the bullish movement.
NEO/BTC Market: Price Retains the Upside
When compared with Bitcoin, the NEO price is hovering above the 9-day and 21-day moving averages within the channel. As the trading volume is high, if the buying pressure continues, the NEO price variation may continue the upward movement. For now, the technical indicator Relative Strength Index (14) is moving to cross into the overbought zone.
However, NEO/BTC is currently hovering at the 581 SAT. Traders may expect close support below the moving averages to touch the support of 500 SAT and below before breaking under the lower boundary of the channel. More so, if the coin continues to move and validates a break above the upper boundary of the channel; traders can then confirm a bull-run for the market and the closest resistance level lies at 650 SAT and above.
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