Key Takeaways
- The NEO price closed the previous day’s trade at $19.03 with a market capitalization of $1.4 billion and a circulating supply of 70,538,831 NEO
- The price is revisiting the January 2022 low levels and appearing to be extremely bearish at the moment
- The asset may plunge hard and shed another 20% to 25% with another shaky move in the next couple of days
Neo(NEO) Technical-Analysis for Today: 14 March 2022
Neo price had smashed rock-bottom levels in the early trading hours but managed to regain the lost positions above $19 very quickly. Despite a significant uptrend, the asset maintains its trend within the danger zone, on the verge of losing yet another significant chunk of its value.
The technicals are turning bearish at the moment suggesting the price plunge down towards the local support. And hence after a minor consolidation, the asset is expected to regain the lost positions above $20 by the end of the day. Moreover, it may attempt to surge high to achieve critical resistance at $21.69.
Neo(NEO) Technical Analysis at a Glance
The NEO price maintained a significant uptrend since the beginning of the month. After a minor consolidation, the asset began to shed its gains and maintained a narrow trend between $19.6 to $21.7. However, ever since the beginning of the current trading day, the asset witnessed a steep plunge breaking down the support levels. No doubt, the price gained back the positions above $19, but the fear of a pullback still haunts the rally.
| Short-Term | The price after a notable uptrend is consolidating from the past couple of hours with an equal fight between the bulls and the bears. But the possibility of a minor uptrend is quite possible. |
| Mid-Term | The asset has witnessed an interim relief from the bearish trend by igniting a flip. Yet the flip does not appear strong and hence may squeeze out the gains soon |
| Long-Term | After consolidating hard along with the average levels, the asset may surge a little but with less intensity. But the fear of plunge still persists. |
Technical Indicators & Pivot Levels
Technical Indicators
| Technical Indicators | Value(1Hr / 1D) | Action (1Hr / 1D) |
| Relative Strength Index(RSI) | 47.98 / 42.12 | Neutral / Sell |
| MACD(12,26) | -0.085 / -0.619 | Sell / Sell |
| Average Directional Index(ADX) | 35.42 / 19.96 | Neutral / Neutral |
| Bull-Bear Power | 0.13 / -2.77 | Buy / Sell |
Pivot Levels
| Pivot Levels | Short-Term | Long-term |
| Moving Average(MA)-50 | $19.81 | $21.37 |
| Moving Average(MA)-200 | $20.38 | $32.10 |
| Resistance | $20.27 | $25.96 |
| Support | $18.79 | $18.27 |
Oscillators
| Oscillators | Short-Term | Long-Term |
| Stochastic Oscillator | 86.10 | 23.78 |
| Ultimate Oscillator | 53.35 | 40.63 |
| Average True Range(ATR) | 0.20 | 1.42 |
| CCI | 73.56 | -109.81 |
The NEO price in the short-term is somewhat bullish but in the long term, the asset is extremely bearish. Most of the indicators are pointing towards a sell signal in HTF, while many are neutral in STF. However, the asset in both the time frames is less volatile and hence one can expect a significant uptrend.
The asset is very close to its immediate resistance in the short term. And hence it may maintain a consolidated uptrend to achieve these levels by the end of the day. However, maintaining a consolidated uptrend, the price may keep trending within a notable uptrend.
Additional Read: What is NEO coin?
NEO /USDT Technical-Analysis for Short-Term
Source: Tradingview
- The NEO price maintained a notable bearish trend since the beginning of the month and visited the lower support levels during the past weekend
- The asset placed itself among the most decisive phase as the Bollinger bands experienced a squeeze
- As a result, the price broke down, and currently attempting very hard to prevent a further drop
- However, despite a significant buying volume having geared up, the asset still appears pretty bearish and again may break the lower bands of the channel very soon.
Additional Read: Top Crypto News Today, March 14, 2022.
NEO/USDT Technical Analysis for Long-Term
Source: Tradingview
- The NEO price after a gigantic fall is attempting hard to sustain the trembled condition by following a steady uptrend
- And hence the asset is swinging within a significant ascending triangle, much distinct from the apex of the triangle
- Therefore, the asset may be consolidated within the triangle, hitting the resistance and the support levels again and again
- And by doing so the price may slowly rise high to hit the levels around the strong resistance around $28.
Where & How to Buy Neo(NEO coin)
Buying or Selling NEO coins is very simple and secure here on CoinDCX. Apart from offering a wide variety of coins, we also offer multiple benefits and attractive features, all at very affordable prices. To start your journey with CoinDCX, you need to register by following 3 simple steps,
- Download CoinDCX App on your smartphone
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- Once your details are verified, fund your wallet and buy your desired crypto.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.
