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NEO parallel channel breaks, single digits on the cards

NEO follows other major cryptos in the southward journey.
Breakdown may lead to NEO heading into single digit.

Manoj B Rawal Independent Analyst

NEO the crypto, like a sincere herd, followed all the other major cryptocurrencies in heading its southward journey by breaking down of a downward sloping channel, which may result into the fall towards the pit.

NEO/USD is down nearly 2 percent on day at $12.66, near low point of the day. On the 480-minute chart, the crypto broke down of a downward sloping lower high, lower low channel and which would result in the price heading all the way into single digits.

Immediate resistance stands around $13.5 while no real support seen before it breaks double digit mark, all the way towards $9.

NEO/USD 480-minute chart:

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Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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