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Crypto Technicals: NEO/USD at new 4-month highs above $14 mark, 'Golden Cross' to support further gains

Wed, 12 Feb 2020, 10:12 am UTC

NEO/USD chart - Trading View

Exchange - Bitfinex

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High and Rising

Support: 13.75 (5-DMA); Resistance: 15.44 (61.8% Fib)

NEO/USD hits new 4-month highs as pair grinds higher, bias strongly bullish.

Price action has broken above trendline resistance at 13.45 and is on track to test 61.8% Fib at 15.44.

Momentum with the bulls, price action converges with Stochs and RSI. 5-DMA is biased higher.

'Golden Cross' (bullish 50-DMA crossover on 200-DMA) raises scope for further upside.

Major and minor trend as evidenced by the GMMA are bullish and parabolic SAR also supports upside.

Price action has broken above 55W EMA at 13.83 and has paused shy of weekly cloud at 14.74. Break above eyes 61.8% Fib at 15.44.

5-DMA is immediate support at 13.75. Break below will see dip till 21-EMA at 12.43.

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