Key Highlights

• NEO gained 3.41% on Sunday, partially reversing Saturday’s 8.35% tumble, to end the day at $18.49.

• An early morning intraday low $17.45 saw NEO steer clear of the day’s first major support level at $16.95.

• Tracking the broader market, a late morning rally saw NEO break through to $19 levels to come up against the day’s first major resistance level at $19.5, with an intraday high $19.43 before easing back.

• Sunday’s rise left NEO down 15.9% for the week, with the extended bearish trend firmly intact.

How to Buy NEO

NEO Price Resistance

NEO gained 3.41% on Sunday, partially reversing Saturday’s 8.35% slide, to end the day at $18.49. Sunday’s rise cut NEO’s deficit for the week, with NEO ending the week down 15.92%.

Tracking the broader market, Saturday’s sell-off continued into the early hours of Sunday, with NEO falling to an early morning intraday low $17.45 before finding support, NEO steering clear of the day’s first major support level at $16.95.

Supported by a broad based cryptomarket rally, NEO broke through to $19 levels, with a late intraday high $19.45, the late move seeing NEO come up against the day’s first major resistance level at $19.5, leading to a pullback to $18 levels by the day’s end.

The weekly losses continued to reaffirm NEO’s extended bearish trend formed back at the end of April’s swing hi $94.65, with a move back through the 23.6% FIB Retracement Level of $33 to $40 levels needed for NEO to begin forming a bearish trend reversal.

At the time of writing, NEO was down 0.42% to $18.34, with the morning being a relatively choppy one, NEO rising from a start of a day morning low $18.27 to a morning high $19.04 before pulling back, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through to $18.5 would support another run at $19 levels to bring the day’s first major resistance level at $19.46 into play, though moving back through to $18.5 in the earlier part of the day will be key to supporting a second half of a day move, the news wires needing to be on the quieter side to draw side lined investors back in.

Failure to move back through and hold above $18.5 could see NEO hit reverse later in the day, with a fall through the morning low $18.27 bringing sub-$18 levels and the day’s first major support level at $17.48 into play. Whether NEO tests sub-$17 support levels will be dependent upon the broader market and ultimately the news wires, which continue to be the key risk to investors intraday.