NEO price analysis: Another breakout after hitting the target earlier

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  • NEO breaks out in the near term.
  • Earlier breakout gave up some ground after hitting target.

NEO the crypto breaks out yet again on the short term chart after it almost reached its price target of last week (read earlier article here), although this one is a little smaller breakout and won’t go as far as hitting this week’s high.

NEO/USD is up almost a percent on day at $16.151 . On the hourly chart, the crypto broke out of a falling wedge pattern, pending confirmations. Once confirmed it would scale up towards just short of this week’s high – around $17 that is.

Immediate resistance, which the bulls need to cross is $16.5 while the support is firmly placed around $15.9.

NEO/USD 60-minute chart:

 

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