NEO supported but down 6%, Immediate Resistance at $21

NEO is within a bear breakout formation, with caps at $21 and $19 representing the April 11 trade range. A close below this week’s lows may see the coin drop towards Q1 2022 lows of $18—and worse if bears add to their shorts. Past Performance of NEO NEO is flat-lining at spot rates, down six percent in the past trading week versus the USDT. The candlestick formation in the daily chart shows that the coin has posted higher highs versus the lower BB. However, prices are still within the April 11 bear engulfing bar. Therefore, while buyers are upbeat, the setup points to sellers in the immediate term. NEO Technical Analysis From an effort versus results perspective, sellers have the upper hand provided prices are within the April 11 bear bar. The immediate resistance level is $21, flashing with the April 11 highs. A close above this mark with rising volumes may be the base for a leg up towards $26. As per the formation in the daily chart, aggressive sellers can unload on pullbacks with targets at $19—April 11 lows—and later $18—March 2022 lows. What to Expect from NEO? Technically, NEO is bearish. Still, the higher highs from April 13 and the failure of bears to confirm sharp losses of early this week may be interpreted as positive. Nonetheless, prices may float higher once there is a comprehensive close above $21.The post NEO supported but down 6%, Immediate Resistance at $21 first appeared on Cryptoknowmics-Crypto News and Medi...