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NEO Technical Analysis | 25 July 2019

2019-07-25 09:26 am | Resource: Technical Analysis Section | No Views : 62

NEO Technical Analysis | 25 July 2019 NEO against USD last week failed to break through the $ 13.89 area due to weaker buyers' resolve and then dropped towards $ 10.82.
During yesterday's trading the encrypted currency rebounded from levels of $ 10.80 and continued to rise as far as $ 12.27.
NEO Technical Analysis | 25 July 2019 
The digital currency is trading in a bullish trend forming over the 4 hour interval. This trend is still weak so far.
We do not recommend rushing and buying at the moment until the breach of the areas of 12.27 $ and the indicators show an increase in the strength of the uptrend.

Analysis of Technical Indicators of the Digital Currency NEO:

The ADX indicator does not indicate a specific direction of trading below 20 pips.
The simple moving average and the slow moving average are currently neutral as a result of the overlap with the price action.
 Al-Azem MACD index with the default settings indicated its bullishness without confirming the trading result below $ 12.07.

Outlook:

It is expected that, in the case of a NEO break of the $ 10.82 area, digital currency may target $ 10.29.
On the other hand, if the encrypted currency breaches $ 12.2, NEO might target $ 15.20.
Support: 10.80- 10.29 - 9.50
Resistance: 12.07- 13.89-16.16
Trend: Up

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