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Crypto Technicals: NEO/USD hovers around 38.2% Fib, further upside on charts

NEO/USD chart - Trading View 

Exchange - Bitfinex

Support: 11.05 (200-DMA); Resistance: 12.80 (Cloud top)

Technical Analysis: Bias bullish

NEO/USD is trading rangebound on the day after closing 8.67% higher in the previous session.

The pair is consolidating previous session's gains, hovers around 38.2% Fib, bias is bullish.

Momentum with the bulls. GMMA shows shift in near and long -term bias. Both short and long term MAs are biased higher.

200-DMA breakout and Stochastics RSI rollover from oversold levels adds to the bullish bias.

Next major resistance lies at daily cloud top at 12.80. Break above will see gains till 61.8% Fib at 15.44.

5-DMA is immediate support at 11.43. Retrace below 200-DMA negates near-term bullish bias.
 

By Anupama Grandhi
  • Market Data
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