NEO NEO/USD is trading at the level of 69.85. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in NEO. Ichimoku Kinko Hyo lower limit test is expected near the level of 70.00, from which one should expect a rebound and attempt to continue falling with the target near the level of 40.00.
NEO forecast & analysis NEO/USD on March 21, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, we received a weak signal for buy of NEO cryptocurrency, due to the crossing of signal lines at 60.00.
Canceling the variant of falling quotes NEO will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the area of 80.00, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the decline in quotations NEO/USD is with the breakdown of the support area and closing below 50.00.
An additional signal in favor of the decline is also the formation of the reversal model «Head and Shoulders». In this case, after the test of the area of 72.50, one should expect the beginning of the fall of quotations NEO/USD. Canceling the model will break through the area of 75.00.
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