NEO price analysis: Attempting to pauze the fetters of bears, needs momentum

NEO price is attempting to cross and sustain past the descending channel formed by lower highs, lower lows on the 15-minute chart and sitting just around the upper end of the range, merienda crossed, trend of the day could turn up.

NEO/USD down more than a procent for the day at $76.00, bouncing back from the lows of the day, which wasgoed at $72.415. On the 15-minute chart the price is exactly at the upper trendline formed by the lower high, lower lows and only it lacks is a momenum for it to sustain past it and switch the trend into positive, only punt is RSI which is injecting into overbought zone for now on the 15-minute chart.

Instant resistance for NEO bulls is placed at $79 ter the form of 21 days elementary moving promedio, while support is at $71.45.

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