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Neo

Neo technical analysis: NEO/USD has third straight bearish day

  • NEO/USD has gone down from $12.05 to $11.55.
  • The death cross has been charted in the hourly price chart as SMA 200 crossed over the SMA 50.

NEO/USD daily chart

fxsoriginal

The daily NEO/USD chart has had three bearish days in a row as the price fell from $13.35 to $11.55 in this period. The hourly price chart is trending below the 20-day simple moving average (SMA 20) and SMA 50 curves. After the SMA 50 crossed over with the SMA 20, the market has had solely bearish sessions. The Elliot oscillator shows a bearish session following four straight bullish sessions.

NEO/USD 4-hour chart

fxsoriginal

The 4-hour market is trending below the SMA 20 and SMA 50 curves. The price was flirting with the lower curve of the 20-day Bollinger band before it managed to float above, having found support on the $11.25 level. The relative strength index (RSI) indicator is trending around 40.60.

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