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NEO Technical Analysis | 15 August 2019

2019-08-15 08:54 am | Resource: Technical Analysis Section | No Views : 31

NEO Technical Analysis | 15 August 2019 The digital currency NEO is against USD failed to penetrate the resistance areas of $ 12.07 supported by breaking the rising trend line during last week's trading due to pressure from sellers.
Due to bear pressure on the cryptocurrency, it broke $ 10.80 then broke $ 10.29 and continued to bleed to the $ 9.17 areas it made this morning.
NEO Technical Analysis | 15 August 2019
The digital currency NEO is trading in a bearish direction over the 240 minute interval. This trend supports breaking the uptrend line and is supported by a break of $ 10.80 areas and then a break of $ 10.29.

Analysis of Technical Indicators of the Digital Currency NEO:

The ADX is indicating that the bearish trend will gain strength over time.
The simple fast moving average and the simple slow moving average are bearish which strengthens the current bearish trend.
 The MACD momentum indicator with default settings is currently bearish.

Outlook:

It is expected that, in case of the digital currency break level of $ 9.27, NEO may target $ 8.91 area.
On the other hand, a NEO break of $ 10.80, the digital currency could target $ 12.07.
Support: 8.91-8.50-8.00
Resistance: 10.29 - 10.80 - 12.07
Trend: Down

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