NEO/USD What's Next?
NEO / Dollar BITFINEX:NEOUSD
The currency pair has lost less than one percent in the past 24 hours. NEO Stopped its downside tendency on Monday as the price failed to establish new lows However, buyers seem unable to change the situation.
Let’s have a closer look at the situation on the Hourly chart. The currency pair has tested $42.80 support area on Monday but failed to cross it. The price went upwards later but NEO/USD was unable to reach the next resistance area at $48.08. The possible ways for NEO/USD are the following:
1. Red scenario ( bearish ). NEO/USD will break through the current support area at $44.55 and run lower targeting the next support at $42.80.
2. Orange scenario (neutral). NEO will stay within the current range limited by the support area at $44.55 and the resistance area at $48.08.
3. Green scenario ( bullish ). The currency pair will jump over the resistance area at $48.08 and move higher targeting the next resistance at $50.24.
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