- NEO reversed from the resistance zone
- Likely to fall to support level 6.00
NEO cryptocurrency recently reversed from the resistance zone between the round resistance level 8.00 (which has been reversing the price from May) and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the daily candlesticks reversal pattern Bearish Engulfing which stopped the earlier extended wave (2) from April.
Given the clear daily downtrend, NEO cryptocurrency can be expected to fall to the next support level 6.00 (which stopped the previous waves iv and b).
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.