NEO price analysis: Lost three fourth from peak; bulls may take solace in technicals

$198 to $49 in less than 3 months.
Technicals point some more pain before gains ahead.

Manoj B Rawal Independent Analyst

Neo lost 75 percent of its value from peak by the end of March, thats not a sign any trader, investor would love to cling to, although bulls would feel comfort in the technicals which points to gains ahead for the crypto after it loses some more.

NEO/USD is down more than 1 percent at $49.18 in Sunday trading and has lost more than 75 percent from its January highs, as of close of March 31.

Technically, much like Ethereum, NEO too is in the proces of making a falling wedge pattern which would give fresh momentum to the bulls after the breakout. Before that, though the price still has some more pain left.

NEO/USD daily chart:

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.