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NEO price analysis: Reaching top of the range, some clawback likely

FX Street
Published date:
  • NEO rallies after taking support on the medium term chart.
  • Some more gain before it tapers off.

NEO bulls have been happier after the prices have rallied some from the short term support line and it may even run a bit more before it claws back some of the gains to fall back near the support line once again.

NEO/USD is up 3 percent on day at $20.70 just at the middle of the day’s range of 20.06 – 21.19. On the 180-minute chart, NEO managed to take a support at the ascending trendline support and bounced in the last two days to rally all the way towards upper end of the range, which is now at $22.

If NEO manages to cross past this resistance line, then it would directly head towards long term resistance line of $30.

NEO/USD 180-minute chart:

 

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