NEO technical analysis: NEO/USD produces double top at the 26th May high, price may look for safety at $52, where an ascending trend line awaits

• Today’s session high (Thursday) produces hits double top with 26th May high.
• Looking deeper at the supply and demand, a sell zone still lingers between $53-54.
• NEO/USD holds onto decent gains despite losing some momentum at the high print, up 4.5%.

NEO/USD 30-minute chart

Spot rate:                                     53.70

Relative change:              +4.50%                    

High:                                                     54.36

Low:                                                       50.80

Trend:                                                 Bullish/Neutral

Resistance 1:            54.36, supply zone & today’s (Thursday) high.

Resistance 2:            56.37, 25th May high.

Resistance 3:            62.00, underneath the long-running ascending trendline.

Support 1:                 52.39, 50 & 100MAs.

Support 2:                52.00, short-term support ascending trendline.

Support 3:                50.80, today’s (Thursday) low.