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Neo Price Analysis: NEO/USD bulls aim to conquer the $13 psychological level, but bearish correction may be around the corner

NEO/USD bulls have pushed the price above the 20-day Bollinger Band, showing that it’s presently overvalued.
The RSI indicator and William’s %R are both trending inside the overbought zone.

Rajarshi Mitra Independent Analyst

NEO/USD daily chart

NEO/USD went up from $12.45 to $12.72 in the early hours of Tuesday as the bulls stayed in control for the second straight day. The price has jumped above the 20-day Bollinger Band, indicating that it’s presently overvalued. Both the RSI indicator and William’s %R are trending inside the overbought zone, so a bearish correction is around the corner.

Support and Resistance

NEO/USD faces stiff resistance at $13.64 and $14.21. On the downside, healthy resistance lies at $12.15, $11, SMA 20, SMA 200 and SMA 50.

Key levels

NEO/USD

Overview
Today last price	12.716
Today Daily Change	0.26880
Today Daily Change %	2.16
Today daily open	12.4472

Trends
Daily SMA20	10.2994
Daily SMA50	9.2837
Daily SMA100	8.86294
Daily SMA200	9.76411

Levels
Previous Daily High	12.703
Previous Daily Low	10.878
Previous Weekly High	10.496
Previous Weekly Low	9.5425
Previous Monthly High	12.31
Previous Monthly Low	8.3801
Daily Fibonacci 38.2%	12.00585
Daily Fibonacci 61.8%	11.57515
Daily Pivot Point S1	11.3158
Daily Pivot Point S2	10.1844
Daily Pivot Point S3	9.4908
Daily Pivot Point R1	13.1408
Daily Pivot Point R2	13.8344
Daily Pivot Point R3	14.9658

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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