NEO Price at Make or Break Zone: Could It Retain $20 Mark Ahead?

• 1 NEO tag has breached the downward trendline mark and stays shut to the 100-day EMA mark.
• 2 This week, the token tag depicts vary-certain tag movements.

The NEO tag stayed shut to the 100-day EMA mark and slipped under the lower trendline, supporting the $17 mark.

The token traded in a downtrend for weeks, revealing a divulge-on selloff. Sellers are eyeing to breach the 200-day EMA mark and having a contemplate about a huge tumble forward.

A destroy and shut above the $17 mark would validate the imaginable up creep and might presumably maybe maybe stretch the features forward.

At press time, the NEO token tag traded at $15.36 with an intraday develop of 1.01%, reflecting neutrality on the charts. It has a monthly return ratio of -15.30% and 55.30% yearly.

The pair of NEO/BTC is at 0.000221 BTC, and the market cap is $1.08 Billion. Analysts are neutral and suggest that the NEO token tag might presumably maybe maybe also unprejudiced replicate a volatile trend and ought to retest the $10 mark forward.

NEO Mark Action and Projections

The daily charts of the NEO token allege a head and shoulders sample and allege seller dominance on the charts.

The token has revealed a constant down creep, losing over 20% final month. In the period in-between, the token reached the 200-day EMA mark, which is the waste-or-destroy zone for the bulls.

Source: Santiment

The token depicts a tumble in the purchasing and selling quantity over 49.28% to $40.09 million and has a full present of 100 million. Nonetheless, the token has a quantity-to-market cap ratio of 0.0369.

The Momentum indicator (RSI) curve reveals a negative divergence and hovers shut to the midline mumble.

Moreover, the MACD indicator confirmed crimson bars on the histogram, revealing a bearish crossover on the charts.

Mark Volatility and Weighted Sentiment Data Remained Flat

Amidst the critical tag spike of over 1.20%, the worth volatility remained flat and signifies low selloff quantity.

Source: Santiment

The Weighted sentiment data articulates flat strikes, noting spherical -0.27, revealing a negative outlook.

Futures OI Data Outlook

This week, amidst the first price tag up creep, the derivative data signifies recent long additions and shows long buildup project.

Source: coinglass

The Open hobby spiked over 6.23% to $27.90 million in the final 24 hrs, revealing the imaginable up creep in the upcoming sessions.

Analysts guided a imaginable purchasing opportunity, because the token trades inside a falling wedge sample and might presumably maybe maybe attain purchasing momentum forward.

Source: Twitter

Conclusion

The NEO token tag hovers shut to the 200-day EMA mark and might presumably maybe maybe showcase up creep forward. If the token succeeds in retaining the $15 mark, it might possibly probably presumably maybe maybe also unprejudiced rebound again to the upside zone of $20 quickly.