THELOGICALINDIAN - The abstruse angle for the brace is starting to attending hopeless while axiological account hasnt had the adapted effect
NEO / USD Short-term amount analysis
NEO has a bearish concise outlook, with the NEO / USD brace now trading beneath its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that the abate arch and amateur arrangement has now accomplished its downside target, while a abundant beyond arch and amateur arrangement is starting to emerge.
Technical indicators on the four-hour time anatomy are attempting to actual higher, afterward the contempo aciculate abatement in the NEO / USD pair.
Pattern Watch
Traders should agenda the downside ambition of the beyond arch and amateur arrangement would booty the NEO / USD brace to a beginning best trading low.
Relative Strength Index
The RSI indicator on the four-hour time anatomy is additionally acclimation higher, although it has yet to about-face bullish.
MACD Indicator
The MACD indicator is aloof on the four-hour time anatomy and is currently declining to accomplish a bright trading signal.
Fundamental Analysis
NEO has additionally appear several important announcements that accept the abeyant to change its bearish concise outlook. The aggregation has announced affairs to drift to a new blockchain implementation, which will acquaint added improvements in achievement of the network. In addition, NEO has partnered with Zeux, a London based Fintech aggregation which will accredit holders to absorb NEO in all food accepting Apple Pay and Samsung Pay with Zeux app. This account could accomplish new absorption in the project, at atomic in the abbreviate term.
NEO / USD Medium-term amount analysis
NEO has angry bearish over the medium-term, with the cryptocurrency now trading beneath its trend defining 200-day affective average.
The circadian time anatomy is assuming that the NEO / USD brace has now breakable all its beforehand account gains, with cryptocurrency creating bearish lower lows.
Technical indicators on the circadian time anatomy accept angry bearish and abide to accomplish advertise signals.
Pattern Watch
Traders should agenda that a ample arch and amateur arrangement is now starting to booty appearance beyond the circadian time frame.
Relative Strength Index
The RSI indicator is bearish on the circadian time anatomy and shows ambit for added downside.
MACD Indicator
The MACD indicator on the circadian time anatomy has angry bearish, with the MACD arresting band continuing to accomplish a advertise signal.
Fundamental Analysis
The medium-term affairs for the activity do not attending decidedly promising. Although the activity is demography accomplish to advance its technology, it is acutely accident the antagonism to bigger networks, such as Ethereum, EOS and TRON. The new blockchain (NEO 3.0) that the aggregation is planning to barrage in Q2 2024 will acquaint an bigger technology, but it is ambiguous how abundant and how bound it will advice NEO to break its acceptance problems.
Conclusion
The abstruse dynamics for the NEO / USD brace accept now shifted, with the cryptocurrency axis bearish beyond both time frames as the contempo changeabout gathers pace.
Bearish patterns are starting to booty appearance beyond the four-hour and circadian time frames, which suggests that the NEO / USD brace could still barter abundant lower.
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