Home NEO/USD fails at the $9.30 resistance line as market drops by a dramatic 6.5%
Crypto News

NEO/USD fails at the $9.30 resistance line as market drops by a dramatic 6.5%

FX Street
Updated:
  • NEO/USD dropped down from $9.29 to $8.72 after failing to break past resistance at $9.30.
  • If bearish momentum continues, then the market may go below the 20-day simple moving average (SMA 20) curve for the first time in over two weeks.

NEO/USD failed to breach past the $9.30 resistance line as its price went down from $9.29 to $8.72. In the process, NEO/USD lost 6.5% of its value this Thursday which saw the entire crypto market take a significant hit.  

NEO/USD daily chart

With the bears dominating this Thursday, they will look to move the price below the $8 mark. If they manage to do so, not only will they break past a critical support line, but they will also bring the market below the 20-day simple moving average (SMA 20) curve for the first time in over two weeks. The relative strength index (RSI) curve has also managed to creep out of the overbought territory.

 

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024