LinasVycunas

NEO: Failing to resist downtrend

BITFINEX:NEOUSD   NEO / U.S. Dollar
Well, this Wednesday, like most of the major altcoins along with Neo, began with trading in red. Nothing new in here, we can see totally bearish market prevails. The increase in selling pressure over the day set the coin in a downward spiral. The market opened with losses for the top most digital currencies. As Bitcoin dropped below the $4,000 mark and dragged all down. In the previous bearish market situation, NEO has collapsed almost 13% in the last seven days and nearly 56% in a month.

The MACD indicates that NEO is trading well into the bearish territory. The 100 EMA line, at the time of writing, clearly shows that the coin is exhibiting a downtrend. The virtual asset is trading below the key support level , which can be noted at $7.31.


NEO has slipped almost 1.56% against BTC
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