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Neo price analysis: NEO/USD drops by 4.30%

FX Street
Updated:
  • NEO/USD has been trending horizontally in <$1 range.
  • The MACD indicator shows a reversal of bullish momentum.

NEO/USD fell from $11.16 to $10.70, charting a 4.30% drop in price. For the past few days, NEO/USD has been trending horizontally in <$1 range. The hourly chart shows us that NEO/USD dropped from $11.20 to $10.47, where it found intraday support and bounced back up. The market is floating above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves.

NEO/USD daily chart

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The latest price session has dropped below the support provided by the SMA 200 curve. The Moving Average Convergence/Divergence (MACD) indicates a reversal of bullish momentum, while the Elliott Oscillator has had three straight red sessions. The Relative Strength Index (RSI) indicator is trending around 60.42, next to the overbought zone.
 

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