NEO Technical Analysis: NEO/USD bears take some time off from selling, perhaps the calm before the storm

• NEO seen holding decent gains of over 2% in the latter stages of trading on Thursday.
• NEO/USD receives a bounce in demand zone, tracking from $21.50-20.50.
• Upside has been capped, formation of a bearish pennant for NEO/USD observed.

NEO/USD 60-mnute chart

Spot rate:                    22.24

Relative change:        +2.10%

High:                           22.69

Low:                            20.79

Trend:                          Bullish
 

Support 1:                  21.61, lower part of pennant.  

Support 2:                  21.50, demand zone.

Support 3:                    20.50, (support on 60-minute chart),

Resistance 1:             22.45, upper part of pennant.  

Resistance 2:             22.93, 50MA.

Resistance 3:             24.90, 100MA