NEO price analysis: Some more pain left in this leg
- Short term still shaky for NEO.
- Medium term too has some more pain left.
NEO bulls, who are lost in the oblivion, have nothing going right for them, just not yet. The charts on the short term as well as medium term, depict that the pain on the downside is not yet over even as many other major cryptos have been bouncing back time and again.
NEO/USD is down more than 1 percent on day at $18.92, tad above the low point of the day. On the 15-minute chart, the crypto has been facing resistance at upper end and has not been able to cross the descending trendline.
While on the 240-minute chart, the support lies somewhere close to $18, about 5 percent more downside from the current levels.
NEO/USD 15-minute chart:
NEO/USD 240-minute chart:
Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel
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.
