NEO Cryptocurrency Weakness Appears to be Very Temporary!

Since mid-January, the #NEO #cryptocurrency has been charting a series of lower highs, drawing concerns among those #investing in the #altcoin.

However, this may be a temporary condition ultimately leading up to a much larger rally. Let's pull up the NEO logarithmic analysis below:

NEO-candlestick-02242018.jpg

A few key takeaways:

  • The low for this year is $64.88, so the "baseline" for this chart is set at $60; therefore, a 100% move will take NEO to $120, and so on...
  • Note that at the top of the 100% sector (or the bottom of the 50% sector) at $120 lies longer-term horizontal support, which NEO is currently struggling to maintain
  • However, also note the development of a bullish pennant formation!

While nearer-term weakness may negatively impact the NEO cryptocurrency, I believe that the longer-term should see a much higher price movement.

Also consider the all-time NEO line chart (which you can pull up at Coinmarketcap.com), which shows the development of a bullish pennant at this current juncture.

Thanks for reading, and stay tuned for my next crypto update!

#cryptoupdate #NEO #cryptocurrency #altcoin #investing #crypto

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Thnaks for giving us some instruction.It increases our steemit skill
& we can gather many experience from your every post.
Thanks

Of course, providing "steemit skill" is my expertise...LOL!

I am very bullish for Neo. The whole market suffered a lot within the last weeks, but Neo did a very nice job to hold its value compared to the average. I have no doubts that it will however increase, if the market recovers easily as well.

I'm with you there...after looking objectively at the charts (I was earlier hesitant on NEO), I think it has potential to surprise in a very positive way.

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