NEO Price Analysis: NEO/USD jumps around 8% within an hour, but upside capped by resistance just above $40.50

“NEO price action has formed a bearish pennant pattern, as can be seen on the 4-hour chart view” writes Fx Street for The NEO price was seen up 2.5% in the latter stages of trading on Monday, after starting the session slow within negative territory.It would be key to see a break from the mentioned pennant pattern, the upper resistance seen at $40.90, a move north and close above this would cancel out the textbook technical.NEO/USD has staged a rebound, after a decent bounce of the lows at $35.80 seen on the 13th June, the price however still failing to sustain any real upside momentum from the bulls.

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