NEO Price Is Charting Like A Champ!
To follow up on my NEO analysis from just over a day ago, we received some clear answers on the price behave.
Recap and Update
In the last post I acknowledged the price breakout out of the descending triangle and the continue follow through of higher prices.
The next point of resistance was around the $31-$32 area. Which is a previous top formed after NEO bounced following a breakdown move on some volume. (see circled candles)
The question was, would price push up further and close a candle above that point, thus flipping it into a support point or would price close below and we see it act as resistance.
Big Push through a Pivot Point, But Some Digestion Instead
We quickly got out answer, even though price spiked up to the $35 area yesterday, it ultimately pulled back to close under $32 and so far today's candle is red and is digesting the big move we just had. It's doing this in the $31-$32 area.....funny how that works?
Gotta love when a crypto is charting nice and clean!
Outlook
Well, first we need to see how this daily candle closes. If it turned around and rallied to close above $32 that would be sweet!
However, in reality I expect that we get some sideways consolidation. A pullback is certainly possible too. As long as that pull back does not regress price by more than a third of the up move, then price action remains positive in my opinion.
Best Regards,
Disclaimer: All comments and analysis are for info purposes and our only my opinion.
Lets go neo lets go!
Where do you see NEO at my friend?
Good analysis ...guess there might be end of week dip from tomorrow
I'm hoping we get a little bit of a dip so I can nibble on some more.
Good point bud
I'm glad I cancelled my sell order which was around $32. Will keep a close eye on it today . I dont think China is done yet so could be another drop at which point I will buy, but if it goes higher will sell the 0.32 I have on the exchange (big pimpin)
Well, $32 was the target. If I was trading it in and out that is where my sell order woulda been, but no selling NEO outta me...just buy on dips and hold for triple digits! :-)
Yea I got a small 0.32 amount which I can stake so would rather sell that combine it with my remaining BTC and buy hash power to cloud mine more ethereum. All about your goals right .
Didn't hear about this one before - sure looks fun. Looks like a giant volume actually. I shall keep my eye on it! Curious to know some more about this :D
Yeah, it basically caught my eye some months back when then rebranded from Antshares to NEO and everyone described it as the Chinese Ethereum.
There has been news of them working with the Chinese Government assisting them with their digital currency initiatives, but there has also been news that Korea is embracing NEO. We shall see what plays out.
Seems interesting.
For now I am only holding BTC - it feels somewhat safer and I need to save some up for in a couple of months. Not sure if I should invest in other coins right now.
I've seen ti crossing my feed multiple times though. I guess it also sounds fancy and fun: NEO.
Yes, I have a feeling when they rebranded from AntShares to NEO the marketing appeal had to be in mind.
And everyone's goals and situations are different. Nothing wrong with just riding BTC if that is what is right for you.
Not necessarily right. I'd like to invest in some cool, new stuff though. Just need to be careful about it :3
NEO fighting off Chinese FUD like...
Perfect gif ;-)
NEO is the new rise of an empire.
my biggest holding :)
NEO to $44 per my TA:
Sounds good to me! :-) Gotta get through this $34-35 level then $44 is the next target for sure.