NEO technical analysis: Set up favors bears, a test of 12.50 support on the cards

  • NEO is one of the weakest across the crypto space on Sunday, down 8% over 24 hours.
  • Technical setup turns in favor of bears, as charts across different time frames display bearish patterns

NEO (NEO/USD), emerges one of the biggest losers among the top 20 digital currencies traded, losing 8+ percent over the last 24 hours. The bulls failed to benefit from the recent strategic step adopted by NEO of investing in Markets opined that the strategic step could boost the current market performance of the coin and accelerate it towards reaching $20 faster. 

NEO/USD 15-minutes chart

  • Sellers in complete control, a break below 13.44 horizontal support will confirm inverted cup and handle formation.
  • Downside targets are aligned at 13.00 and 12.50 levels.
  • Bulls could test the offers 13.64 (10-DMA) and 13.76 (2-DMA).

NEO/USD daily chart

  • A potential rounding top formation is spotted on the daily sticks.
  • The pattern will get confirmed once the prices close below the 13.25 figure.
  • A breach of the last could accentuate the downside, leading to a test of 12.63 (pattern target) over the next month.

Levels to watch


Today last price 13.558
Today Daily Change -0.50800
Today Daily Change % -3.61
Today daily open 14.066
Daily SMA20 16.43665
Daily SMA50 13.92027
Daily SMA100 12.30564
Daily SMA200 10.2703
Previous Daily High 15.33
Previous Daily Low 13.2
Previous Weekly High 17.993
Previous Weekly Low 14.2
Previous Monthly High 20.849
Previous Monthly Low 11
Daily Fibonacci 38.2% 14.01366
Daily Fibonacci 61.8% 14.51634
Daily Pivot Point S1 13.06733
Daily Pivot Point S2 12.06867
Daily Pivot Point S3 10.93733
Daily Pivot Point R1 15.19733
Daily Pivot Point R2 16.32867
Daily Pivot Point R3 17.32733



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

War for dominance hit the bedrock of the market

The cryptocurrency market reaches the end of the week with widespread declines in the crypto market. The week has been dominated by a boiling Altcoin segment that has set very significant rises.

More Bitcoin News

BCH/USD in retreat after gaining 7% in a matter of minutes

Bitcoin Cash (BCH) is still in a red zone on a day-to-day basis; however, the coin recovered strongly from the intraday low of $232.60 and hit $240.00 in a matter of minutes. At the time of writing, BCH/USD is changing hands at $237.00.

More Bitcoin Cash News

ADA/USD extends the decline, $0.1000 at risk

Cardano (ADA) extended the decline and hit $0.1102 on Friday. The coin has lost 20% from the peak of $0.1386 reached on July 8. At the time of writing, ADA/USD is changing hands at $0.1120, down 9% in the recent 24 hours.

More Cardano News

ETH/USD volatility ousted as DeFi skyrockets to $2 billion

Ethereum alongside the largest cryptocurrency, Bitcoin are dealing with a peculiar situation characterized by low trading volume, poor investor interest as well as the lack of catalysts.

More Ethereum News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast