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Neo Price Analysis: NEO/USD hovering below the green Ichimoku cloud

FX Street
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  • The SMA 20 curve has crossed over with the SMA 50.
  • NEO/USD is on course of charting a third straight bearish day.

NEO/USD daily chart

NEO/USD daily chart

NEO/USD is on course of charting a third straight bearish day. In the early hours of Friday, NEO/USD fell from $9.37 to $9.27. In this three day period, NEO/USD fell from $9.82 to $9.27. While the price is hovering below the green Ichimoku cloud, it is trending above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The SMA 20 curve has crossed over the SMA 50 curve, which is a bullish sign. The Moving Average Convergence/Divergence (MACD) and Elliott Oscillator indicates that the overall market sentiment is bullish.
 

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