Weekly Cryptocurrency Update: NEO - March 4th
Today's Cryptocurrency we will be looking at and analyzing is NEO. Neo has had a decent week as it is still up 3.15% since last week but has been on a downward move for the last 5 days. As you can see from the chart, NEO hit the lower support on the current channel it is trading in and I took up a position at $120. I am expecting to see the price bounce off this resistance and head toward to the top of the channel to test the upper resistance one last time. After the conclusion of this channel, I am expecting to see the a breakout of the channel on the downside so I will be looking at selling part of my position once it reaches the top of this channel. I have sold out of my position in DGD completely making roughly a 15% profit in a couple days and will be looking for a re-entry point when it finishes it's downward move and heads back into the $400's range. I am still holding LTC and NANO and waiting for the conclusion of their upward moves before selling out and waiting for a significant pull back. I will be posting my charts on NANO tomorrow and will post any trades I do today. As always have a great day and good luck trading!
As a Neo long term holder, i hope the price will bounce up forever :D
I don't think it will got lower then 115 anymore, we got some nice support.
I am also waiting for LTC to fly up so I can sell it, might aswell get some NEO, but Neo looks like a long term investment to me not a short one. Thanks for sharing your moves :)
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