- NEO broke down on a medium term chart.
- Recent lows won’t hold.
NEO, the crypto which gave up more than 90 percent of its gains last November, now seems to be in the process of hitting those lows again, given that it has broken down of critical supports on the medium term charts and there are no other major ones where it can hold itself on.
NEO/USD is down more than 1 percent on day at $17.60 and near the low point of the day. 240-minute chart of NEO shows it broke down of a crucial support line and now is headed towards recent August lows, which might prove a temporary support.
Eventually given the pattern, NEO bulls have all but given up on any major price recovery and the price might head all the way towards last November lows when it lost 90 percent of the value in one single day.
NEO/USD 240-minute chart:
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