NEO off the critical support level, but more upside is limited. Long-term trendline needs to be cleared for an extended recovery. NEO, the 12th largest coin with market value $2.1B and the China’s flagship project, has gained nearly 3% since the start of the day amid nascent recovery on the cryptocurrency market. NEO/USD is changing hands at $33.12, off Thursday’s low reached at $31.39. NEO’s technical picture Despite the recovery, the technical picture still looks bearish as the price stays below the long-term sloping trendline, which is currently registered at $33.89. However, NEO/USD managed to recover above 50-SMA (1-hour chart), now at $3258. It serves as the initial support level for the intraday traing strategies. If we manage to clear the above-said trendline, recovery may be extended towards $36.78 (200-SMA). NEO/USD, 1-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 GBP/USD likely to navigate within 1.3150/1.3350 near term – UOB FX Street 5 years NEO off the critical support level, but more upside is limited. Long-term trendline needs to be cleared for an extended recovery. NEO, the 12th largest coin with market value $2.1B and the China's flagship project, has gained nearly 3% since the start of the day amid nascent recovery on the cryptocurrency market. NEO/USD is changing hands at $33.12, off Thursday's low reached at $31.39. NEO's technical picture Despite the recovery, the technical picture still looks bearish as the price stays below the long-term sloping trendline, which is currently registered at $33.89. However, NEO/USD managed to recover above 50-SMA (1-hour chart),… 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.
