CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
AL English
Country • Albania
    Entity • Capital Com Online Investments Ltd (SCB) (Regulated by SCB)
    English العَرَبِيَّة Deutsch ελληνικά Español Français Italiano Magyar Nederlands Polski Română Русский 简体中文 繁體中文

    NEO price analysis: Buyers looking at $10.00 resistance area

    By Nathan Batchelor

    16:06, 30 April 2020

    NEO price analysis

    NEO has risen to its highest trading level since March 12th as the popular cryptocurrency tracks the broader market higher.

    NEO technical analysis shows that the cryptocurrency is likely to test towards the $10.00 resistance level.

    NEO medium-term price trend

    NEO is breaking higher this week, as the cryptocurrency continues its recent recovery from the $4.00 technical area.

    With bullish tones spreading through the digital currency market is it likely that buyers may launch an attack towards the NEO/USD pair’s 200-day moving average.

    NEO price analysis

    NEO price analysis shows that buyers may test towards the $9.60 to $10.00 resistance area.

    If a breakout above the cryptocurrencies 200-day moving average does occur, around the $9.60 level, bulls may test towards the March 7th swing-high, around the $12.60 level. 

    It is worth pointing out that NEO has been stuck below its trend-defining 200-day moving average since March 8th this year.

    What is your sentiment on EA?

    168.11
    Bullish
    or
    Bearish
    Vote to see Traders sentiment!

    BTC/USD

    99,057.85 Price
    +4.700% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    ETH/USD

    3,408.65 Price
    +10.140% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 6.00

    XRP/USD

    1.41 Price
    +26.500% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    US100

    20,733.30 Price
    +0.440% 1D Chg, %
    Long position overnight fee -0.0241%
    Short position overnight fee 0.0019%
    Overnight fee time 22:00 (UTC)
    Spread 1.8

    NEO short-term price trend

    NEO technical analysis over the short term shows that the cryptocurrency only has a bullish bias while the price trades above the $7.40 level.

    The four-hour time frame shows that a bullish reversal pattern is currently in play, following the breakout above the $8.20 level.

    NEO price analysis

    According to the size of the bullish reversal pattern the NEO/USD pair could rally towards the $10.00 level.

    It is noteworthy that bearish MACD price divergence has been created during the latest rally and extends down towards the $7.20 level.

    NEO technical summary

    NEO technical analysis shows that bulls may soon test technically bullish. A reversal pattern points to coming gains towards the $10.00 resistance level.

    Markets in this article

    NEO/USD
    NEO / USD
    13.5789 USD
    1.119 +9.040%

    Rate this article

    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
    CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
    Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

    Still looking for a broker you can trust?

    Join the 660,000+ traders worldwide that chose to trade with Capital.com

    1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading