NEO/USD Range-Bounds as Price Drops Below $6.70

The Neo price prediction is dropping below the 9-day and 21-day moving averages after touching the daily high at $6.71.

Neo Price Statistics Data:

• Neo price now – $6.62
• Neo market cap – $467.1 million
• Neo circulating supply – 70.5 million
• Neo total supply – 100 Million
• Neo Coinmarketcap ranking – #71

NEO/USD Market

Key Levels:

Resistance levels: $9.0, $10.0, $11.0

Support levels: $5.0, $4.0, $3.0

After touching the resistance level of $6.71 today, NEO/USD is trading at $6.62. The coin is also moving within the channel and below the 9-day and 21-day moving averages, indicating a bearish movement in the market. For the time being, the market price is moving towards the lower boundary of the channel as the trading volume is issuing a sell signal, while the technical indicator confirms the bearish movement.

Neo Price Prediction: NEO Price May Not Be Ready for Higher Levels

At the time of writing, the Neo price is sliding below the moving averages as bulls couldn’t keep the coin on the upside. However, any attempt by the buyers to cancel the current bearish movement and push the Neo price back above the 9-day and 21-day moving averages could revisit the resistance level of $6.71.

Furthermore, any bullish cross above the upper boundary of the channel could lead the market to the crucial resistance levels at $9.0, $10.0, and $11.0. Meanwhile, if the coin continues to head towards the lower boundary of the channel, the NEO price could reach the critical supports at $5.0, $4.0, and $3.0 as the technical indicator Relative Strength Index (14) moves to cross below the 40-level.

Against Bitcoin, the Neo is trading below the 9-day and 21-day moving averages with a bearish candle heading toward the lower boundary of the channel. The technical indicator Relative Strength Index (14) is moving to cross below the $ 40 level which could bring more bearish signals into the market. Any further drop may likely hit the support level of 360 SAT and below.

Nevertheless, any form of a rebound from the current level at 397 SAT could push the coin to the resistance level of 440 SAT and above. But buyers may need to gather enough momentum to push the market price to the north. For now, NEO/BTC is moving bearishly and may start rising once the technical indicator turns upward.

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