Crypto Technicals: NEO/USD resumes weakness, momentum studies bearish

NEO/USD chart - Trading View

Exchange - Bitfinex

Support: 6.68 (Oct 23 low); Resistance: 9.32 (5-DMA)

Technical Analysis: Bias Bearish

NEO/USD has resumed downside, halting 2 straight sessions of gains.

The pair was trading 3.20% lower at 9.02 at 11:22 GMT, after closing 1.80% higher in the previous session.

Technical indicators support weakness, price action below cloud and major moving averages.

Stochs and RSI are sharply lower, MACD and ADX support downside in the pair.

Price action is hovering around 100-DMA at 9.22, decisive break below will see dip till 6.68 (Oct 23 low).

On the flipside, failure to break below 100-DMA will see minor bounce. Immediate resistance is seen at 110-EMA at 10.03.

TokenPost | [email protected]