Crypto Technicals: NEO/USD retraces dip below 1H 200-SMA, eyes 50-DMA at 10.56

NEO/USD chart - Trading View 

Exchange - Binance

Support: 9.38 (1H 200 SMA); Resistance: 10.56 (50-DMA)

Technical Analysis: Bias Slightly Bullish

NEO/USD is struggling to extend bullish momentum, fails to track gains across major crypto pairs.

The pair has been on a downward spiral and is struggling to breakout.

Price action is currently hovering around 21-EMA which has been capping upside in the pair since April 12th.

Technical indicators are suggesting some upside on the hourly charts.

Price action has retraced above 200-SMA and hourly cloud.

RSI and Stochs on the daily chart have also turned and are now biased higher. Breakout at 21-EMA eyes 50-DMA at 10.56.

Failure to close above 21-EMA and break below 5-DMA will see resumption of weakness.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.