Neucoin Price Technical Analysis for 3/12/2015 – More Bullish Energy!

Neucoin Price Key Highlights

  • Neucoin price has been consolidating on the short-term time frames while also lingering around the bottom of a major range.
  • A bit of upside momentum can be seen since price broke above it short-term rectangle pattern, setting its sights at the top of its longer-term range.

Neucoin price could make it all the way up to the range resistance at 0.000026 if bulls continue to stay on top of their game. 

Nearby Resistance Levels

Before neucoin price makes it all the way up there, though, it might encounter a bit of a roadblock around the area of interest at 0.000024, which has held as support or resistance in the past. If this keeps gains in check, another test of the range support at 0.000021 might take place.

Stochastic is on the move up, reflecting a rise in bullish pressure, which might be enough to sustain the climb. In fact, a break past the range resistance at 0.000026 could also serve as a double bottom neckline breakout, confirming that a long-term uptrend is underway.

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A double bottom upside breakout could send neucoin price up by an additional 0.000005 points, as this is the same height as the reversal chart formation. Bitcoin price is under a bit of selling pressure now, with a pending downtrend signal in the works. But if the neckline holds a resistance, a move towards the area of interest at 0.000024 or the bottom of the range might be in the cards.

The short-term 5 SMA is crossing above the longer-term 20, also showing that the path of least resistance is to the upside. However, if this proves to be a false signal and another downward crossover from the simple moving averages is seen, neucoin price might even attempt to break below the range support and go for further declines.

Intraday support level – 0.000021

Intraday resistance level – 0.000024

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