NEO/USD breaks a critical near-term support, neckline of a head and shoulders pattern formation. Next downside target for NEO/USD seen at $35.75, the 13th June low and touted demand zone. The NEO price was seen down over 3% on Thursday, one of the session’s underperformers. This comes as the cooling in prices across the market remains. Given a recent breakout seen to the downside, from a key supporting area, this could invite some decent selling in the near-term for NEO. Over the past five sessions now, NEO/USD has been forming a head and shoulders pattern, as seen via the 60-minute chart view. The right shoulder completed its shape during Thursday’s session, with most recently a break being seen from the supporting neckline, which retested and has now continued its move south, playing to the textbook. Due to the completion of the mentioned pattern, it is now somewhat inviting to some further selling pressure from the market bears. Looking to the downside, eyes are on the 13th June low at $35.75, where a touted demand zone also tracks. On the flipside, resistance is seen underneath the broken neckline at $38.05, then should the price push back above, $38.75, 50 and 100MAs. NEO/USD 60-minute 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 NZD/USD pares early losses, turns positive above mid-0.68s FX Street 5 years NEO/USD breaks a critical near-term support, neckline of a head and shoulders pattern formation. Next downside target for NEO/USD seen at $35.75, the 13th June low and touted demand zone. The NEO price was seen down over 3% on Thursday, one of the session's underperformers. This comes as the cooling in prices across the market remains. Given a recent breakout seen to the downside, from a key supporting area, this could invite some decent selling in the near-term for NEO. Over the past five sessions now, NEO/USD has been forming a head and shoulders pattern, as seen via the… 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.