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NEO Technical Analysis | 15 July 2019

2019-07-15 08:50 am | Resource: Technical Analysis Section | No Views : 108

NEO Technical Analysis | 15 July 2019 NEO last week failed to breach the resistance of $ 18.25 due to weakness in demand, thus falling to break $ 16.15 and then breaking $ 13.89.
 The encoded currency continued to fall to break above $ 12.07 and the uptrend line continued to decline as far as $ 11.20.
 NEO Technical Analysis | 15 July 2019
The digital currency NEO is trading through a bearish trend in the configuration supporting this trend breaking areas of $ 13.89 and $ 12.07 and breaking the ascending trend line on the 240-minute interval.

Analysis of Technical Indicators of the Digital Currency NEO:

The index of ADX points to the strength of the bearishness by trading above the 50-point levels.
The simple moving average and the slow moving average are currently pointing downward, reinforcing the current bearish trend.
The indicator of the moment of the default MACD is currently bearish.

Outlook:

It is expected that, in the case of a digital currency break of the $ 11.20 area, the NEO currency may target $ 10.80 area.
On the other hand, if the encrypted currency breaches $ 12.92, it might target $ 15.31.
Support: 10.80- 10.29 - 10.00
Resistance: 12.07- 13.89-16.16
Trend: Down

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