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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Cryptocurrency market update: Bitcoin and major altcoins lethargic in tight ranges

The cryptocurrency market stays in the red zone after an unsuccessful recovery attempt on Saturday, July 20 followed by Sunday's sell-off. Bitcoin and all major altcoins are nursing losses with the notable exception of Cosmos, Tezos and Ethereum Classic.

More Cryptocurrencies News

Litecoin price analysis: LTC/USD stalled at $100.00

Litecoin has been sidelined for the recent four days, capped by SMA100, currently at $102.76. The fourth-largest digital asset with the current market capitalization of $6.2 billion has gained nearly 10% in recent seven days to become of of the best-performing coins out of top-10. 

More Litecoin News

Ethereum price analysis: ETH/USD bulls gather breath before another assault at $230

Ethereum, the second-largest cryptocurrency with the current market capitalization of $24.2 billion, settled above $225.00; however, the further recovery is limited. ETH/USD is moving in lockstep with Bitcoin (BTC) and the rest of the cryptocurrency market ...

More Ethereum News

EOS price analysis: EOS/USD bulls strengthen their grip

EOS is rising in value during the weekend European session. The upward correction is welcome following the recent dip to $3.30. The last couple of days have seen the buyers fight tooth and nail to come out of the bear range.

More EOS News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast