NEO suffers massive losses after failing to breach $7.0 resistance. Technical conditions remain generally negative as recovery continues to be hampered. NEO is among the worst-hit digital assets in the recent overwhelming declines. The push to correct above $7.6 failed; a move that left a gap that has been explored by the bears. The tentative support at the Simple Moving Averages (SMA) did little to prevent losses. The bearish leg extended under $7.2 and $7.0 respectively. However, the high congestion of buyers between $6.6 – $6.8 cushioned and put an end to the drop. Meanwhile, NEO’s recovery has not been able to break above $7.0. For now, the price is teetering at $6.82 after losing 1.45% on the day. The Relative Strength Index (RSI) is showing extremely oversold conditions but NEO is still unable to pull out of the ‘crypt.’ Moreover, the Elliot Wave Oscillator has started another bearish session following the shallow recovery. On the brighter side, the Moving Average Convergence Divergence (MACD)’s gradual upward slope suggests that buying power is still present. As long as the price stays above $6.8 support, the buyers would have a chance to focus on levels higher than $7.0. NEO/USD one-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – Asian Wrap 24 Oct FX Street 3 years NEO suffers massive losses after failing to breach $7.0 resistance. Technical conditions remain generally negative as recovery continues to be hampered. NEO is among the worst-hit digital assets in the recent overwhelming declines. The push to correct above $7.6 failed; a move that left a gap that has been explored by the bears. The tentative support at the Simple Moving Averages (SMA) did little to prevent losses. The bearish leg extended under $7.2 and $7.0 respectively. However, the high congestion of buyers between $6.6 - $6.8 cushioned and put an end to the drop. Meanwhile, NEO's recovery has not been… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
