NEO price analysis: Another crypto thats waiting to breakout

NEO on the verge of medium term breakout.
Internals are supportive as well.

Manoj B Rawal Independent Analyst

NEO the crypto that has given away more than 90 percent of its gains from the January top is on the verge of breaking out on the medium term chart just as all hopes were lost w.r.t. NEO whether it would ever be able to revive itself up.

NEO/USD is up just about 2 percent on day at $19.25, not far from the day's high and enough movement through the day. On the 480-minute chart, NEO is just sitting at the cusp of a descending trendline, drawn from July highs.

Once broken all it needs is some moementum and fundamental news favouring its upside surge to throw all the bears out of the battleground.

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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