NEO faces tough decision: 2 month resistance vs 1 month support

Maybe I've been missing something with Neo, or haven't paid much attention during its gentle rise. Today however I picked up on this interesting pattern forming, it's approximately a 35-day support line vs a 66-day support line that's closing in fast.

While it might not look so good for Neo today after it's head and sholders rally this month, something tells me that Neo won't break the support line for too long. Despite China not lifting ICO bans this month, causing Neo to suffer an uncertain future, it's worth remembering that the "Chinese Ethereum" has proven resilient to news from it's country.

We could easily see another rise from setting up a new support as low as $25, that this time successfully targets over $40. Why?

"NEO is working directly with the Chinese government to carve out what regulations will ultimately look like. They've proven themselves in China. I think there is actually some pride in Beijing at what NEO has accomplished." - Ian Holtz, founder of Orion Technologies

Not forgetting that the cryptocurrency markets are notorious for factoring in price before event's have even happened, whether it's an upgrade, new exchange listing, hard fork or regulation. Some recent examples that come to mind are Ethereum's recent upgrade, Bitcoin Cash hard fork, South Korea regulation and numerous major exchange listings.