{"id":4618,"date":"2017-11-01T10:41:47","date_gmt":"2017-11-01T10:41:47","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=4618"},"modified":"2017-11-23T18:21:49","modified_gmt":"2017-11-23T18:21:49","slug":"neo-price-analysis-neousd-forming-crucial-breakout-pattern","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/neo-price-analysis-neousd-forming-crucial-breakout-pattern\/","title":{"rendered":"Neo Price Analysis: NEO\/USD Forming Crucial Breakout Pattern"},"content":{"rendered":"<p><em>Neo price is trading inside a contracting range pattern below $32.00 against the US Dollar. NEO\/USD might soon make the next move either above $32.00 or below $25.00.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Neo price is trading in a major contracting range with support above $25.00 and resistance near $32.00 against the US Dollar.<\/li>\n<li>There is a major bearish trend line forming with resistance at $31.00 on the 4-hour chart of NEO\/USD.<\/li>\n<li>The pair might soon make the next move either above $32.00 or below $25.00.<\/li>\n<\/ul>\n<h2>Neo Price Chart Analysis<\/h2>\n<p>There was no major upside move in Neo price above $32.00 and $34.00 resistance levels against the US Dollar. Earlier, there was a downside move initiated from the $39.00 swing high and the price declined back below $30.00.<\/p>\n<p>A low was formed at $24.87 and the price started moving back higher. It traded above 23.6% Fibonacci retracement level of the last decline from the $39.00 high to $24.87 low. However, the upside move was capped by the $32.00 and $34.00 resistance levels.<\/p>\n<p>Moreover, the 50% Fibonacci retracement level of the last decline from the $39.00 high to $24.87 low is acting as a key barrier for an upside drift. There were many false spikes above $32.00 and there is a major bearish trend line forming with resistance at $31.00 on the 4-hour chart of NEO\/USD (data feed from bittrex).<\/p>\n<p>On the downside, the $25.00 and $26.00 support levels are holding further losses. The pair is currently below the 100 simple moving average (H4) at $27.10 and might test the $26.00 support.<\/p>\n<p>However, the decline should be limited as long as the $26.00-25.00 support area is intact. It seems like there is a contracting range forming with resistance at $31.00 and $32.00, and support on the downside at $25.00-26.00.<\/p>\n<p>At the end, the pair has to break either $25.00 or $32.00 to make the next move. A 4-hour close above $32.00 would ignite an upside wave toward $40.00.<\/p>\n<p>On the flip side, a break of the $25.00 support might push Neo\u2019s price back toward $20.00.<\/p>\n<p><em>Trade safe traders and do not overtrade!<\/em><\/p>\n<p>Cryptocurrency charts and prices provided by <a href=\"https:\/\/www.tradingview.com\/markets\/cryptocurrencies\/\" rel=\"nofollow noopener\" target=\"_blank\">TradingView<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Neo price is trading inside a contracting range pattern below $32.00 against the US Dollar. NEO\/USD might soon make the next move either above $32.00 or below $25.00. Key Talking Points Neo price is trading in a major contracting range with support above $25.00 and resistance near $32.00 against the US Dollar. There is a major bearish trend line forming with resistance at $31.00 on the 4-hour chart of NEO\/USD. The pair might soon make the next move either above [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":4619,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[825],"tags":[188,386,111],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/4618"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=4618"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/4618\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/4619"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=4618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=4618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=4618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}