NEO- the cryptocurrency has not seen much of a major surge or a drop and has been traveling sideways for quite a long time. The price of NEO at the press time was $10.97 with a market cap close to $774 million. CoinBene- world’s leading blockchain financial derivatives service platform traded the maximum amount of NEO which was about $36 million via the NEO / USDT pair.

2 Hour Chart

Source: NEO / Tether USD TradingView

The short term chart exhibited a downtrend extending from $13.37 to $11.71 and an uptrend from $1.16 to $10.89. The resistance stood at $11.31 and the support was held at $10.66.

The Bollinger Bands were undergoing a constant squeeze thereby reducing the volatility of the tokens.

The Awesome Oscillator showed that the red bars were gaining momentum indicating that the coin was facing a bearish sentiment.

Chaikin Money Flow: The CMF was heading towards the zero line but since it was under the zero line at the press time, the coin was in the bearish market.

1 Day Chart

Source: NEO / Tether USD TradingView

The daily chart exhibited an uptrend extending from $6.90 to $10.87 and a downtrend extending from $20.83 to $13.38. The resistance stood at $12.58 and the immediate support was at $10.29 and the subsequent support was at $8.59.

Parabolic SAR: The dotted line below the candlesticks was drawing an upward path pushing the coin to the markets of bears.

Relative Strength Index: The coin had just breached the overbought section and it was swaying in towards the 60-line indicating a higher buying pressure in the bullish market.

The MACD line was over the signal line hinting that the coin was under a bullish trend.

Conclusion  

Only two indicators suggest that the coin was in the bullish market while many other indicators suggest that the coin was under the bearish market.

(Excerpt) Read more Here | 2019-11-07 06:11:19
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