NEO price analysis: This rise never was a rally, only a pullback; recent lows could be at risk

NEO price analysis: This rise never was a rally, only a pullback; recent lows could be at risk

Analysis Criptodivisas Cryptocurrecy Cryptocurrencies Cryptocurrency Cryptojacking Cypto NEO
May 16, 2018 by Anyelier villalobos
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NEO’s recent rally was only a pullback. New lows in the sight. NEO bulls may have to forget any meaningful rally in the prices as the recent rally in prices was only a pullback and is now at a risk of drifting all the way back to the recent lows of April, quite a contrast
NEO-gas
  • NEO’s recent rally was only a pullback.
  • New lows in the sight.

NEO bulls may have to forget any meaningful rally in the prices as the recent rally in prices was only a pullback and is now at a risk of drifting all the way back to the recent lows of April, quite a contrast to some other cryptos like EOS which made new all time highs.

NEO/USD is currently down more than 4 percent at $60.07 and near the low of the day, which is at $59.01. NEO’s long term daily chart shows the rise that we saw from April lows was only a pullback in overall downturn that this crypto is witnessing and any meaningul bull run is still a far cry.

On the short term though, there’s a good support for the crypto right where the price is. Immediate resistance, though is around $62.28, just above the day’s high.

NEO/USD 240-minute chart:

NEO/USD daily chart: