Weekly Price Overview: NEO, April 26

At the end of May 2017, the price started to rise and hit a high of about $58 levels in August of last year.

The cryptocurrency again broke out of the range in mid-December, and the up move topped out around the $200 mark in mid-January 2018.

The ensuing correction reached a low of just about $44 levels in early April of this year.

Let's identify the important levels on the daily chart.

Though the bulls succeeded in breaking out of $80 on April 24, they could not sustain the highs, and the price dipped back below the trendline on the very next day.

Currently, we find a rounding bottom pattern, which will complete on a breakout and close above $80 levels.

On the other hand, if the price breaks down below both moving averages and $64, it will become weak and slide back towards the early April lows.

How to trade the NEO/USD pair nowLong-term investors can expect a few weeks of consolidation, but history suggests that the next trending move should be to the upside.

Traders who follow us and are long at $64 levels should maintain their stops on the remaining position at breakeven.

Currently, the cryptocurrency is finding support at the moving average.