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Crypto Technicals: NEO/USD pivotal at 200-DMA (10.17), breakout to propel prices higher

Mon, 13 Jan 2020, 10:35 am UTC

NEO/USD chart - Trading View

Exchange - Bitfinex

Technical Analysis: Bias turning Bullish

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

Overbought/ Oversold Index: Near overbought

Support: 9.81 (5-DMA); Resistance: 10.17 (200-DMA)

NEO/USD was trading 3.20% lower on the day at 9.90 at 10:15 GMT, bias slightly bullish.

The pair has paused upside at 200-DMA resistance at 10.17, breakout to boost prices.

Price action is within the daily cloud, volatility is rising and Oscillators are biased higher.

Stochs and RSI show convergence with price action. MACD has moved into positive territory and ADX supports gains.

Price action has close above 21W EMA in the previous week. Breakout at 200-DMA to see gains till upper BB (W) at 12.05 ahead of Double Top at 13.45.

Failure at 200-DMA will see dip till 21-EMA at 9.36. Breach at 21-EMA support negates bullish bias.

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