Search ForexCrunch
  • NEO rallies like a dead caat bounce.
  • Not enough room on the upside.

NEO, the cryptpo that has fallen more than 90 percent this year already, does not have anything going right for it as the technical picture indicates any rally in the price will only get sold into and it has a lot more pain left.

NEO/USD is up more than 2 percent on day at $18.25, not far from day’s high of $18.49. Long term chart of the crypto that has forgotten 90 percent of its gains in the gone by year, shows no signs of bottoming out just yet.

The upper end of this dead cat bounce is limited upto $20-21 while the downside could extend even towards single digits unless something drastically changes fundamentally.

NEO/USD daily chart:

 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.