Bulls may take over the NEO market soon
NEOUSD Price Analysis – July 14
In case the bulls increase their momentum, resistance level of $13 may be penetrated, above the mentioned level are $16 and $19 levels. Should the resistance level of $13 is defended by the bears, NEO may likely decrease to $8, $6 and $19 support levels.
Resistance levels: $13, $16, $19
Support levels: $8, $6, $5
NEO/USD Long-term Trend: Bullish
NEO/USD is on the bullish movement on the long-term outlook. The coin fell from the high of $29. The resistance level of $29 opposes the continuation of the uptrend. The bears pushed the coin back below the $19 price level where it extends to $13 level. An attempt was made to break down the just level mentioned level. The price sits on $8 support level. At the moment, the bulls are trying to change the price direction, facing $13 price level.
The two EMAs have been broken upside and the price is trading above the 9 periods EMA and 21 periods EMA at close contact as an indication of low bullish movement. The relative strength index period 14 is at 59 levels with the signal line pointing down to indicate sell signal. In case the bulls increase their momentum, resistance level of $13 may be penetrated, above the mentioned level are $16 and $19 levels. Should the resistance level of $13 is defended by the bears, the price may likely decrease to $8, $6 and $19 support levels.
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NEO/USD Medium-term Trend: bullish
NEO is bullish on the short-term outlook. The bearish pressure pushed the cryptos down to $8 price level, the bulls reject further declination of the NEO price. It was pushed up towards the resistance level of $13. The resistance level of $13 is currently exposed.
The two EMAs are interlocked with the coin hovering over the 9 periods EMA and 21 periods EMA which indicates that low bullish momentum in progress in the NEO market. The relative strength index period 14 is at 50 with the signal lines facing south which may be a pullback.
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