From yesterday’s open at $6.12 the price of Neo has fallen by 6.94% as its currently trading at $5.71.
Looking at the hourly chart you can see that the price action created a descending triangle from which unlike in the case of Bitcoin Cash the price still hasn’t broken out off. We can see that the price is back on the levels of the prior low like in the case of Bitcoin but with a cluster formation slightly bearish. From here I would expect to see a breakout as the price is getting near the triangle’s apex and the most likely direction would be to the downside.
NEO’s hourly chart technicals indicators are signaling a strong sell.
Pivot points
S3 4.89
S2 5.39
S1 5.59
P 5.89
R1 6.09
R2 6.39
R3 6.88
Looking at the hourly chart you can see that the price action created a descending triangle from which unlike in the case of Bitcoin Cash the price still hasn’t broken out off. We can see that the price is back on the levels of the prior low like in the case of Bitcoin but with a cluster formation slightly bearish. From here I would expect to see a breakout as the price is getting near the triangle’s apex and the most likely direction would be to the downside.
NEO’s hourly chart technicals indicators are signaling a strong sell.
Pivot points
S3 4.89
S2 5.39
S1 5.59
P 5.89
R1 6.09
R2 6.39
R3 6.88