Neo Price Analysis: NEO/USD remains bullish as the rest of the crypto market turns red

• NEO/USD went up from $12.21 to $12.78 charting a 4.67% increase in price.
• NEO/USD remained bullish while the rest of the crypto market goes through a period of correction.

NEO/USD went up from $12.21 to $12.78 charting a 4.67% increase in price this Thursday. This means that NEO/USD is one of the few coins in the market which remained bullish even as the rest of the market went through a period of correction. One of the reasons behind this behavior could be the fact that famous exchange Changelly listed the GAS token this Thursday.

GAS and NEO are the two tokens used in the Neo ecosystem. Users can use GAS to pay the cost of processing transactions on the Neo blockchain. Changelly tweeted:

“Listing updates: $GAS, a #cryptocurrency for @NEO_Blockchain platform, has been listed on Changelly. From now on, the token is available for hassle-free and quick swaps at http://changelly.com”

NEO/USD daily chart

• The NEO/USD daily chart is trending above the 200-day simple moving average (SMA 200) and SMA 50 curves. The SMA 50 is looking to crossover with SMA 200 which is a highly bullish sign.
• The signal line is diverging away from the MACD line which shows growing bullish momentum.
• The relative strength index (RSI) indicator is trending in the overbought zone.
• The last two sessions breached past the resistance provided by the upward trending line.
• Bulls will want to target the $14 resistance line in the near future.