- Neo value should maintain a key help degree to keep away from a 25% drop.
- A important indicator has offered a promote sign for NEO.
- The digital asset suffered a 43% crash right down to $31.
After an enormous sell-off, Neo value has rebounded from an important help degree at $31. Nevertheless, a key indicator has simply offered a promote sign which might ship NEO even decrease.
Neo value on the verge of falling to $21
On the 3-day chart, the TD Sequential indicator has simply offered a promote sign for the primary time since December 2020. The final sign had a major bearish continuation, which provides credence to the outlook of the present one.
NEO/USD 3-day chart
On the 4-hour chart, Neo value has simply climbed above the 100-SMA help degree. A breakdown under this level at $40.7 will rapidly ship NEO right down to $32 on the 200-SMA. Failure to carry this degree can be devastating with the potential to drive Neo value in the direction of $21, which is the 50-SMA on the 3-day chart.
NEO/USD 4-hour chart
To invalidate the bearish outlook, NEO bulls should push the digital asset above the 50-SMA at $44.8. A breakout above this level might rapidly launch Neo value in the direction of the psychological degree at $50.
— to www.forexcrunch.com
