NEO : Price Analysis, March 02



We have been bullish on NEO because it broke out of the bearish descending triangle pattern on Feb. 26. Therefore, we had recommended to buy it at $126 levels with the stop at $105. However, the price has not moved according to our expectation.


The NEO/USD pair has turned down sharply from the overhead resistance at $140. If the price fails to find support at $120 levels, it is likely to fall to the next immediate support of $110. We believe this zone to offer strong support. Therefore, we have retained the stop loss at $105.

Both the moving averages are flattening out, which suggests a range bound action for a few days.

On the upside, the cryptocurrency will gain momentum only above $140.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.