Top 5 Cryptocurrencies to Watch This Week: BTC, NEO, TRX, XTZ, VET

A relief rally from the current levels is likely to face resistance at the 50-day simple moving average ($9,398). However, if the pair rebounds off the $8,910.04 level, the bulls will try to push the price above the downtrend line of the channel.

The rebound off the critical $9.21399 support could not even touch the 20-day EMA ($10.23), which shows that the bulls are not in a hurry to buy NEO at higher levels as they are not confident that a bottom is in place. The 20-day EMA is sloping down and the RSI is close to the 40 level, suggesting that bears have the upper hand.

Timeline of Neo, Bitcoin, Tezos, Tron