The NEO price has broken out from a long- and short-term descending resistance trendline.
The price is currently attempting to break out from the $13.30 horizontal resistance area.
NEO Reaches Long-Term Resistance
The NEO price has increased since the beginning of the year, when it bounced at the $6.10 horizontal support area. The price broke out from a descending resistance trendline in January.
The NEO price did not break out from the $13.30 area initially, rather, it was rejected by it. Then, NEO created a higher low in October (white).
After beginning another upward movement two weeks ago, the altcoin is making another attempt at breaking out above the $13.30 resistance.
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Author: Valdrin Tahiri
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