- NEO shows the potential to stay above $10 in this consolidation phase.
- The bulls only need one more push above the supply zone at $11.50 to bring $13 back into sight.
NEO is among the selected few digital assets in the green at the end of the Asian session on Friday. In the last couple of weeks, NEO has come out as a strong contender in the market. Despite the upside capped under $11.50 and $13.00 respectively, $10 – $10.50 has been established as a key support zone preventing a return into the $9 range.
Meanwhile, the price spiked above the 50 Simple Moving Average (SMA). The bullish action also has legs from the $11 short-term support. NEO has corrected higher 1.12% to trade at $11.76.
All eyes are glued on breaking the next target at $11.50. The Relative Strength Index (RSI) aiming sharply for the overbought. The impending overbought conditions could also be used to spot a reversal movement. Also in line to offer support is the 100 SMA above the major support zone at $10 – $10.50.
NEO/USD 60′ chart
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