Crypto Technicals: NEO/USD Near-Term Outlook

NEO/USD chart - Trading View

Exchange - Bitfinex

Major Support Levels

S1: 8.51 (Aug 29 low)

S2: 8.15 (Trendline support)

S3: 7.08 (Jan 13 low)

Major Resistance Levels

R1: 9.36 (21-EMA)

R2: 10.27 (50-DMA)

R3: 11.42 (nearly converged 200-DMA and 23.6% Fib)

Bias

Major Trend - Bearish

Near-Term trend - Neutral

Technical Analysis

'Death Cross' (bearish 50-DMA crossover on 200-DMA) weighs.

Bullish divergence on RSI and Stochs raises scope for upside.

21-EMA is stiff resistance at 9.36. Break above could see extension of upside.

Next major resistance aligns at 50-DMA at 10.27. 200-DMA breakout will see bullish continuation.

Major trend is bearish. Failure to break above 21-EMA will see resumption of weakness. Dip till trendline support at 8.15 likely.

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