NEO Tanks 12%, May Drop to January 2022 lows of $14

In a bear breakout formation, NEO is down 12 percent in the last trading day. The coin remains under pressure, provided prices are below this week’s highs at $19. Past Performance NEO wasn’t spared the dump of May 5 as per the candlestick arrangement in the daily chart. At present, the coin is down 12 percent from the previous trading day, pinned by strong bears. Based on the NEOUSDT formation, the coin remains in a downward trajectory as long as prices are below $19. NEO Technical Analysis Technically, NEO is bearish. The rejection of higher highs and reversal from the 20-day moving average at around $19 is a net negative. Notably, on May 5, its prices corrected from around February’s lows, unwinding the gains of May 4. Traders can look for entries to sell at spot rates, targeting this week’s lows of around $16. A close below this mark may fast-track another wave of liquidation, pushing the coin to January 2022 lows of about $14. What to Expect from NEO? The crypto market is under immense selling pressure. As sellers double down, traders may drive the coin to 2022 lows and possibly lower. This preview will be valid as long as NEO is trading below this week’s highs of $19.The post NEO Tanks 12%, May Drop to January 2022 lows of $14 first appeared on Cryptoknowmics-Crypto News and Media Platform.The post NEO Tanks 12%, May Drop to January 2022 lows of $14 appeared first on Cryptoknowmics-Crypto News and Media Platform.