Neo (NEO/USD) Plunges to $10.68 Following Bearish Slide – Price Analysis

Neo Price Analysis 

  • NEO price analysis reveals downward tendencies.
  • NEO/USD formed a support barrier at $10.24.
  • The altcoin faces resistance at $11.64.

Neo price outlook shows the alternative token riding bearish waves today. The alternative token secured support near $10.24 and faced resistance near the $11.64 resistance. However, NEO welcomed the day with positive actions as bullish propelled NEO/USD towards $11.17. nevertheless, bears dominated within no time, dragging the token to $10.6.

Such actions triggered relative volatility as the token fluctuated within the two levels. Though bulls pushed the token towards $11.17, sellers tightened their teeth, pushing Neo towards $10.68. the marketplace might retain volatility in the coming hours. While publishing this content, NEO trades at $10.68, losing 1.34% within the past day. Its trading volume hovers at $112,843,458, whereas the market capitalization stood $753,493,973.

1 Day Timeframe – NEO/USD Consolidate at $10

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The daily chart shows NEO/USD on bearish actions since the day started. The alternative token secured support near $10.24, whereas the immediate resistance stood at $11.64. Though bulls tried to push prices to $11.17, bears reacted within no time to drag Neo lower.

The Relative Strength Index stays at 50.65, confirming a neutral market outlook as the day ends. The Moving Average Convergence Divergence hovers within the bearish territory as NEO seems primed for more downside trends. The 50 EMA and the 200 EMA exhibit bearishness as the altcoin remain primed for a continued downtrend.

4Hr Timeframe – NEO to Test $11.64

The 4Hr chart confirms NEO on a bearish bias. Analysts trust the token will see some near-term consolidation, and bears and bulls battle for control. For now, the price hovered between $10.68 and $11.65.

The Relative Strength Index sways beneath the 50 mark, indicating a bearish trend in the market. The MACD hovers in the bearish territory as prices appear ready for more declines. Also, the 50 EMA suggests bearishness.

Final Thought

NEO/USD reflects bearish sentiments as the pair drooped towards a support line. Bears control the market at the moment. Moreover, technical indicators confirm downside trends. Enthusiasts can expect more plummets from Neo. The vital support barrier to consider stands at $10.24, whereas the resistance level stands near $11.64.

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