Crypto Analyst Identifies Major Pattern on NEO Price Chart

• A Head and Shoulders pattern was identified on the 4-hour chart of NEO cryptocurrency.
• A break above the $14 region could see NEO price rally up to $18.
• Breaking below $12 could mean that NEO would drop to lower levels.

A cryptocurrency analyst with the Twitter name Ali has made public his price expectations for NEO, the cryptocurrency for the open-source, decentralized application blockchain that goes by the same name, Neo. Ali expressed his NEO price expectations using a Head and Shoulders pattern identified on the 4-hour chart of the cryptocurrency.

$NEO appears to be shaping an H&S patttern on 4hr chart! A break above $14 = bullish, target $18.

Keep an eye on $12 support as losing this level could spoil the party for #NEO. pic.twitter.com/vHi3ONiz51

— Ali (@ali_charts) March 27, 2023

Based on the chart displayed and Ali’s analysis, the Head and Shoulders pattern has left strong support and resistance at the $12 and $14 price levels, respectively. He notes that a break above the $14 region could see the cryptocurrency under analysis rally up to the $18 mark. On the contrary, breaking below $12 could change the scenario and lead NEO to lower price lev…

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