Neo price analysis: NEO/USD charts two straight bearish days after bulls run out of steam at $9.30 level
|- NEO/USD went down from $9.14 to $8.78 so far this Tuesday.
- NEO/USD reached a low of $8.06 before bulls stepped back in to push the price up.
NEO/USD is on course of charting two straight bearish days in a row. The asset has gone down from $9.14 to a low of $8.06 this Tuesday, before checking itself to $8.83. This Monday NEO/USD bulls ran out of steam at the $9.30-level and went down to $9.15. The hourly breakdown for Tuesday shows that the price went up to $9.20 and then fell dramatically to $8.75, reaching a low of $8.06. Since then, the bulls stepped back in and took the price back up to $8.83.
NEO/USD daily chart
The NEO/USD price has found resistance at the downward trending line and the 20-day simple moving average (SMA 20) curve. The price is also trending below the SMA 50 and SMA 200 curves. The moving average convergence/divergence (MACD) indicator shows slight bullish momentum. The Elliott oscillator shows nine straight bullish sessions and the relative strength index (RSI) indicator has dropped from 46.85 to 40.50.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.