NEO/USD Technical Analysis: Bears claw back into the market

NEO/USD Daily Chart

• NEO/USD went up from $10.16 to $10.27 this Thursday.
• The price is currently trending upwards in a channel formation.
• The price is above the SMA 200 curve while still below the SMA 20 and SMA 50 curves.
• The SMA 50 curve has crossed above the SMA 20 curve, which is a bearish sign.
• The signal line is about to converge with the MACD line, showing decreasing bearish momentum.

NEO/USD 4-Hour Chart

• The relative strength index (RSI) indicator is trending at 56.25.
• The 4-hour NEO/USD market forms a triangle formation from which the price has had a bearish breakout.
• The market is above the SMA 50 and SMA 20 curves.
• The 4-hour price is trending in a downward channel.

NEO/USD Hourly Chart

• The hourly NEO/USD is trending below the SMA 20 curve.
• The hourly price is above the SMA 200 and SMA 50 curves.
• The Elliot oscillator shows seven consecutive bearish sessions.
• The short-term resistance lies at $10.30.

Key Levels