NEO Coin Correcting Down

NEO Coin found the support around $26.5 which has been rejected multiple times during the course of 3 weeks. Although it failed to break above the downtrend trendline, at the same time it broke below the uptrend trendline.

In addition to that, today NEO/USD broke below the 200 Moving Average AND could be ready to establish a new low. TThe nearest downside target appears to be $23.5 where the total drop after the downtrend trendline breakout could be 16%. Break below that support is likely to send NEO even lower.

If to consider an uptrend and trend reversal, break and daily close above the strong resistance at $33 is required.



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