- NEO continues to face downward price pressures.
- Some indicators suggest upward breakout likely in the near future.
NEO the cryptocurrency continues to face selling pressure on the upper levels, taking prices towards recent lows. Though there are all the chances that it may finally leave this selling pressure behind and break out of the triangle (and falling wedge) in the near future.
NEO/USD is down more than 3 percent to $16.97, few bps above the day’s low. A quick look at the hourly and daily chart of the crypto suggests that selling pressure on this crypto would continue to haunt bulls in the immediate term.
Though some solace can be found on the daily chart wherein a falling wedge has formed and it should be able to break out of this pattern soon enough.
NEO/USD hourly chart:
NEO/USD daily chart:
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