Tag: 200HMA

A test of 200-HMA likely on NEO’s road to recovery

  • NEO/USD remains trapped between 50 and 200-HMA.
  • Hourly RSI has ticked higher above the midline.
  • 200-HMA is likely to be tested in the near-term.

NEO (NEO/USD) witnessed good two-way businesses on Friday, having finally settled in the red after fading a spike above the $23 mark.

 So far this Saturday’s trading, the buyers have regained control, allowing a tepid bounce in the spot. At the time of writing the No. 19 coin rises 2.4% to $21.82.

Looking at it technically on the hourly chart, the price is trending upwards after bottoming out last Tuesday at $18.60, carving out a potential rising channel formation. Meanwhile, the sellers continue to lurk above $23, leaving the rates in a familiar range.

The NEO bulls have managed to defend the 50-hourly Simple Moving Average (HMA) at $21.60 on Saturday, despite the overnight drop to near the $21 region.

Over the last hour, the spot

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TRX/USD challenges 200-HMA after falling wedge breakout

  • TRX/USD extends Friday’s advance amid quiet trading.  
  • A falling wedge breakout spotted on the hourly chart.
  • 200-HMA offers immediate resistance after the sharp pullback.

Tron (TRX/USD) is breaking higher from its three-day range trade on Saturday, building on Friday’s rebound amid a falling wedge breakout charted on the hourly sticks earlier on in the day.

The bullish momentum in the No. 15 coin gathered steam after the falling trendline resistance at 0.0241, validating the bullish formation.

Adding credence to the upside break, the 21-hourly Simple Moving Averages (HMA) pierced above the 50 and 100-HMAs in the overnight trades.

The price is now seen challenging the downward-sloping 200-HMA at 0.0244 to accelerate the advance towards the psychological barrier at 0.0250.

Tuesday’s high at 0.0253 will be next on the buyers’ radar. The hourly Relative Strength Index (RSI) stays bullish, pointing towards the overbought territory at 61.85 levels.

On a failure to

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