NEO/USD Beartish Correction. What's Next???

Neo has lost more than five percent in the past 24 hours and is the day’s loser. The currency pair developed an upside correction during the weekend and reached new highs at $58.03. However, later NEO/USD reversed and declined towards the current support area at $53.20.
Let’s have a closer look at the Hourly chart. NEO/USD declined in the past 24 hours and breached the support area at $56.00. It seems like the currency pair has a local bearish correction. What are the possible ways for NEO/USD in the nearest future?
1. Red scenario (bearish). The currency pair will break through the support area at $53.20 and move lower targeting the next support area at $50.24.
2. Orange scenario (neutral). NEO/USD will jump off $53.20 and run higher targeting the closest resistance area at $56.00. There, the price will reverse towards support area.
3. Green scenario (bullish). The currency pair will run towards weekend’s highs at $58.03.


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