NEO price analysis: NEO/USD consolidates early Asian gains
- NEO is again the best-performing altcoin out of top-20.
- The critical support is created by $15.00 handle.
NEO, the 18th largest coin with the current market value of $1.2 billion, has resumed growth after a short-lived downside correction. NEO has gained nearly 6% of its value in recent 24 hours and stayed mostly unchanged since the beginning of Tuesday. NEO/USD is changing hands at $17.90.
NEO's technical picture
On the intraday charts, NEO/USD is locked in a tight range limited by $17.50 (Simple Moving Average, SMA50 and the lower line of Bollinger Band on 1-hour chart) and $18.00 (the upper boundary of the above-said Bollinger Band). A sustainable move below the channel support will open up the way towards the next bearish aim of $16.30 (SMA100, 1-hour) closely followed by $16.16 (Monday's low). Critical support lies with psychological $15.00 strengthened by SMA200 1-hour.
On the upside, we will need to see a strong move above $18.00 for the upside to gain traction with the next aim at $19.00 and $19.80 (the recent high reached on June 22). Ultimate resistance awaits is at $20.00.
NEO/USD, 1-hour chart
Author
Tanya Abrosimova
Independent Analyst
