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Bob Mason

Key Highlights

  • NEO slid by 1.5% on Sunday, reversing Saturday’s 1.65% gain, to end the week down 13.77% at $15.72.
  • An early rally saw NEO break through the first major resistance level at $16.17 and second major resistance level at $16.38 to an intraday high $16.55 before reversing.
  • A late in the day sell-off saw NEO slide to an intraday low $15.7, calling on support at the first major support level at $15.73.
  • NEO continued to fall well short of the 23.6% FIB Retracement Level of $33 to leave the extended bearish trend intact.

How to Buy NEO

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NEO Price Support

NEO fell by 1.5% on Sunday, reversing most of Saturday’s 1.65% gain, to end the week down 13.77% at $15.72.

A bullish start to the day saw NEO rally through the day’s first major resistance level at $16.17 and second major resistance level at $16.38 to an intraday high $16.55 before easing back through the resistance levels.

Finding support through the afternoon, NEO moved back through the first major resistance level at $16.38 to an afternoon high $16.45 before being hit with a broad based cryptomarket sell-off.

The late in the day reversal saw NEO slide through to sub-$16 levels to hit an intraday low 15.7, NEO finding support at the day’s first major support level at $15.73 to avoid heavier losses on the day.

The late pullback and heavy losses for the week reaffirmed the extended bearish trend formed at the end of April’s swing hi $94.65, with NEO continuing to fall well short of the 23.6% FIB Retracement Level of $33, last hit back in August.

At the time of writing, NEO was down 0.06% to $15.83, with NEO recovering from a start of a day fall to a morning low $15.52 to a morning high $15.85, the moves through the early morning leaving the day’s major support and resistance levels untested.

For the day ahead, holding on to $15.8 levels through the morning would support a run at $16.00 levels later in the day to bring the first major resistance level at $16.28 into play, with any broad based market rally through the day likely to see NEO test the day’s second resistance level at $16.84 before pulling back, $17 levels unlikely to be hit through the day, barring particularly positive news hitting the wires.

Failure to hold on to $15.8 levels through the morning could see NEO pullback through the morning low $15.52 to call on support at the first major support level at $15.43, with the day’s second major support level at $15.14 in play should sentiment across the broader market deteriorate through the day.

Looking at the Technical Indicators

Major Support Level: $15.43

Major Resistance Level: $16.28

Fib 23.6% Retracement Level: $33

Fib 38% Retracement Level: $45

Fib 62% Retracement Level: $64

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