- In May the price zoomed to highs close to $15.00 but formed a high at $14.75.
- NEO/USD could soon breakout towards the critical level at $15.
NEO is holding on to weak support at $13.00 following the slide $14.00 (resistance congestion zone). In the previous surge in May, the price zoomed to highs close to $15.00 but formed a high at $14.75. The declines that followed found support at $12.00 as well as the rising trendline.
Looking back on the weekend trading sessions, NEO alongside other digital assets were consolidating above various key support levels ($13.50 for NEO). The price stayed above the 50 Simple Moving Average (SMA) 1-hour. However, NEO opened the trading today making amid a growing bearish trend.
The price dipped below the moving averages before finding bearing at $13.00. A reversal has since occurred from this level but the correction has been limited at $13.50. The formation of a contracting triangle pattern on the 15-minutes chart means that a NEO/USD could soon breakout towards the critical level at $15.
However, before that, the bulls must clear the resistance at $13.50, $13.75, $14.00 and $14.75. On the flip side, support is seen at $13.00, $12.50 and $10.00.
NEO/USD 15-minutes
Share
