Neo technical analysis: NEO/USD has fallen by 10.25% over the last five days

• The daily NEO/USD price is trending in a downwards channel formation.
• The four-hour price chart has found resistance at the SMA 20 curve.

NEO/USD daily chart

NEO/USD has fallen from $9.75 to $8.75, dropping by 10.25% over the last five days. The daily price is trending in a downwards channel formation and floating below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Relative Strength Index (RSI) indicator is around 36.

NEO/USD four-hour chart

The four-hour NEO/USD chart has found resistance at the SMA 20 curve and dropped from $9.05 to $8.75 in four hours. The price is currently flirting with the lower curve of the 20-day Bollinger Band. The Elliott Oscillator has had three straight green sessions.

NEO/USD hourly chart

The hourly NEO/USD has dropped from $9.02 to $8.69 in two hours, breaking below the SMA 20 and SMA 50 curves in the process. The price is floating below the green Ichimoku cloud. The Moving Average Convergence/Divergence (MACD) shows increasing bearish momentum.

Key Levels