NEO/USD chart - Trading View
Exchange - Bitfinex
Major Support Levels
S1: 8.51 (Aug 29 low)
S2: 8.15 (Trendline support)
S3: 7.08 (Jan 13 low)
Major Resistance Levels
R1: 9.36 (21-EMA)
R2: 10.27 (50-DMA)
R3: 11.42 (nearly converged 200-DMA and 23.6% Fib)
Bias
Major Trend - Bearish
Near-Term trend - Neutral
Technical Analysis
'Death Cross' (bearish 50-DMA crossover on 200-DMA) weighs.
Bullish divergence on RSI and Stochs raises scope for upside.
21-EMA is stiff resistance at 9.36. Break above could see extension of upside.
Next major resistance aligns at 50-DMA at 10.27. 200-DMA breakout will see bullish continuation.
Major trend is bearish. Failure to break above 21-EMA will see resumption of weakness. Dip till trendline support at 8.15 likely.
