NEO Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

The Hourly View for NEO

• Currently, NEO’s price is up $0.08 (0.85%) from the hour prior.
• NEO has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
• As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
• The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NEO’s hourly price chart is shown below.

The Daily View for NEO

• At the moment, NEO’s price is up $0.19 (2.17%) from the day prior.
• The daily chart shows that NEO has seen 3 straight up days.
• As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
• Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being above it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Below is a daily price chart of NEO.

Featured NEO Idea From TradingView

Below is a trading comment entitled ETH Daily TA Neutral Bearish you may find interesting:

ETHUSD Daily neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash. *Equities, Cryptos, Commodities, Treasuries, VIX and the Euro all finished today either relatively flat or slightly up; while DXY pushed even higher today signaling that fears of a “technical” global recession are still mounting. The correlations have been muddied all year but financial markets seem to be signaling that a recession is already priced in and that inflation is reaching its peak. However, there is very little evidence to support that the supply chain situation is improving at the moment (China still maintaining ‘Zero-Covid’ policy and Russia pushing on in Ukraine). According to the Fed , demand issues only account for 1/3 of US inflation and at least 1/2 of it is caused by global disruptions to supply chain; using this logic it would be reasonable to assume that inflation hasn’t peaked because the situations in Ukraine and China have not improved while economic conditions around the world are simultaneously deteriorating. Seeing that Cryptos are the most ‘Risk-On’ asset in the …

— dailytaguy