Are the Bulls Back In Control Of NEO?
Kiana Danial | Feb 18, 2019 12:20AM ET
After reaching the lows of back in November 2017 at around $5 in December 2018, NEO/USD has been struggling to find that great bullish momentum to really trigger a reversal. On the daily chart, the pair has been struggling to break above a really thin Ichimoku Cloud. But the future cloud is bearish and the Chiko span, one of the main Ichimoku moving averages, is still inside the previous cloud.
NEO was up over 3% on Sunday so and bits of gains the week before so if the pair is able to break above the cloud in its slow and steady pace, the doors may open for it to reach the next resistance level at around $17. However, if the bulls don’t get their act together, we may see another test of the $5.54 support level before the next bullish round.
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