an hour ago | Michael Fasogbon
| ⠀NEO price: | $9.60 |
|---|---|
| ⠀Key NEO resistance levels: | $10.20, $11.24, $12.50 |
| ⠀Key NEO support levels: | $8.50, $7.80, $6.90 |
*Price at the time of writing
NEO price analysis
While many top crypto projects are preparing for a short-term uptrend, NEO is still struggling to move out of a tight range, and currently captured in a triangle. However, the cryptocurrency is close to the point of breaking upwards from the formed triangle pattern. Even though NEO successfully breaks, it may also encounter a close technical resistance line, which is drawn from the monthly high of $13.18.
Surpassing this white-dotted resistance line would confirm a decent bullish momentum for the NEO market. We should expect intensive buying pressure to $10.2, followed by the $11.24 resistance. Reclaiming these resistances could trigger an additional drive to $12 and potentially $12.5 on a short-term timeline.
Alternatively, NEO may trend the other way round, which means a break-down could materialize.
If such a scenario occurs, the 18th largest cryptocurrency could roll back to the monthly low of $8.42. A price drop may also cause substantial selling pressure which might end the yearly trade on a bearish mode. However, if we consider the technical indicators of reading, it seems the buyers are more likely to gain control of the market.
| ⠀Ontology price: | $0.66 |
|---|---|
| ⠀Key ONT resistance levels: | $0.72, $0.85, $0.95 |
| ⠀Key ONT support levels: | $0.59, $0.53, $0.45 |
Ontology price analysis
Looking at the hourly chart, there’s no doubt that Ontology is forming a bullish setup. The swing upwards may become more significant if the current rising wedge breaks up. While anticipating such a move, there’s a near resistance for the buyers at $0.72 and $0.85. However, there is not enough trading volume and volatility at the moment.
How to buy Ontology on Binance
The price of ONT is fast-approaching the angle of the wedge, which suggests that a surge in volatility could occur soon. A bearish surge may cause a lot of weakness in the market. This may also keep Ontology back in a downward range to retest $0.59 and $0.53 supports again.
It appears that the recent volatility for Ontology is quite insignificant but a look at the technical MACD and RSI indicators shows that the ONT market is in a bullish zone. Should these indicators turn negative, the price of Ontology may drop heavily to nearby support levels.
| ⠀VeChain Thor price: | $0.0063 |
|---|---|
| ⠀Key VET resistance levels: | $0.007, $0.0075, $0.008 |
| ⠀Key VET support levels: | $0.006, $0.005, $0.0045 |
VeChain price analysis
The hourly chart for VeChain is revealed in a bullish trend with a channel formation that has kept the buyers in momentum for the past four days. Yesterday, VET tested the channel’s upper boundary and is now looking for support at $0.006, where the channel’s lower boundary lies.
We can see that the RSI is conversely heading towards the oversold level. The next level of resistance to keep in mind is $0.007. If VET fails to respect the channel, we may see an intense sell-off towards the $0.005 – $0.0045 support zone.
Nevertheless, the bullish setup is still intact on the hourly chart. It may become more significant if the price of VET surges above the channel pattern.
