NEO/USD chart - Trading View
Exchange - Bitfinex
Support: 11.16 (200-DMA); Resistance: 12.14 (21-EMA)
Technical Analysis: Bias Bearish
NEO/USD slumped over 9% on Bitfinex overnight from session highs at 12.25 to lows at 11.03.
The pair finds major support at 200-DMA (11.16), break below required for further downside.
Technical indicators are turning bearish. Break below 200-DMA will accentuate weakness.
GMMA indicator shows shift in major trend and Stochastics RSI is showing a rollover from overbought levels.
Upside has failed at 21-EMA resistance and 'Inverted Hammer' formation dents upside. RSI is well below 50 levels and MACD and DMI support weakness.
Next major support below 200-DMA lies at 10.15 (trendline). Breakout above 21-EMA negates near-term bearishness.


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