NEO / USD is returning in the middle of consolidation as the coin drops to nearly $ 37.11. The price is now hovering around the $ 39.60 level. If the market continues and depresses the downturn, the $ 35 is likely to show up in the next negative moves. Additionally, the coin could continue to look for lower price levels if the bears continue to show exposure to the market.

What you can expect from NEO

The market is currently following a downtrend as the RSI (14) technical indicator drops below the 50 level. A look at the daily chart shows that the trading volume on the market is getting smaller and smaller. If the NEO / USD pair continues to remain under bear control, the price may climb to previous supports at $ 34, $ 32, and $ 30. On the upside, traders can expect the next resistance levels at $ 45, $ 43, and $ 41.

NEO / BTC Market: Consolidation Down

NEO / BTC is bearish on the daily chart. The price continues to follow a downtrend on the chart. It trades on the upper limit of the channel. The bears are successfully pulling the price within the 9-day and 21-day moving averages, so any further movement below the moving averages could push the coin to the support level of 650 SAT and below.

NEOBTC – daily chart

However, looking at the daily chart’s RSI (14) technical indicator, the market may appear to continue moving sideways if the single line moves in the same direction above the 50 level. If the bulls regroup and hold the downward move, NEO price may begin an uptrend and push price above the upper bound of the channel and move towards resistance levels at 850 SAT and above.