Bears are taken over the NEOUSD market
NEOUSD Price Analysis – August 20
In case the bears increase their momentum, support level of $8 may be penetrated, below it are $6 and $5 levels. Should the support level of $8 is defended by the bulls, the NEOUSD may likely decrease to $9, $10 and $11 resistance.
levels Key Levels:
Resistance levels: $9, $10, $11
Support levels: $8, $6, $5
NEO/USD Long-term Trend: Bearish
NEO/USD is on the bearish movement on the long-term outlook. The resistance level of $29 opposes the continuation of the uptrend. The bears pushed the coin back below the $19 price level where it extends to $13 level. An attempt was made to break down the just mentioned level. The price sits on $8 support level. The bulls are tried to change the price direction, after testing the support level of $18 three times. Price bounced up from the level and tested the resistance level of $12. Sellers opposed the bulls and price falls to $9 level.
The two EMAs have been broken downside and the price is trading below the 9 periods EMA and 21 periods EMA at distance which indicate strong bearish movement. The relative strength index period 14 is at 39 levels with the signal line pointing down to indicate sell signal. In case the bears increase their momentum, support level of $8 may be penetrated, below it are $6 and $5 levels. Should the support level of $8 is defended by the bulls, the price may likely increase to $9, $10 and $11 resistance levels.
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NEO/USD Medium-term Trend: bearish, Tamadoge Is Inclining
NEO is bearish on the short-term outlook. The bullish pressure pushed the cryptos up to $12 price level, the bears rejected further inclination of the NEO price. It was pushed down towards the support level of $9. The price is currently struggling to break down the $9 support level.
The two EMAs are separated with the coin trading below the 9 periods EMA and 21 periods EMA which indicates strong bearish momentum in progress in the NEO market. The relative strength index period 14 is at 27 levels with the signal lines facing south which connote sell.
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