NEO DOWNTREND, WARNING!

My Analysis in Neocoin

The analysis of the NEOBTC 2.23% trend line starts with the 3-Day view of the NEO chart. Next, we examine the 1D chart of the price trends to get a shorter-term view. Finally, we analyze the 4H chart to get an even shorter-term view.

Starting with the 3-Day of the NEO trend chart, the bull market of the last 2 months turned down, as the price fell below the 20-Day exponential moving average . The Relative Strength Indicator is above 50, but turning down indicates the end of the bullish trend . The MACD has a bearish crossover, a sign the price trend has reversed, and we have entered a bear market.

The analysis of the 3-Day trends of the chart shows we remain in a bear market with key resistance at the 20-Day exponential moving average . I expect, support at the 50-Day exponential moving average will be tested soon.