The views and interpretations in this article are those of the author and do not necessarily reflect the views of bcointalk.com . Each Investment and trading bandwagon carries with it a risk, and you should be good to do research before making a decision.
The market data were provided by HitBTC exchange.
NEO was in the ongoing recovery from the deep stands a under performer. In terms of market capitalization, it fell to tenth place.
Many believe that the potential of NEO will come in about 3 – 5 years.
Therefore, it seems to be a good idea, the crypto-currency through the Dips to „hodeln“
weekly chart
After the IPO was NEO for a long time under 0.82 euros. Then, at the end of may 2017, began to rise, the price reached in August of last year, a High of about 47 euros.
After such a strong rally, it was logical to expect Profit booking and that’s exactly what happened. The prices corrected to the 20-week EMA, could hold, however, until the beginning of December.
The crypto currency broke out again in mid-December from the Band, and the upward trend peaked in mid-January, 2018, the brand of 164 Euro. The correction achieved at the beginning of April of this year to a Low of just 36 euros.
If you depends on the history, the digital currency, followed by a correction and after a period of consolidation, upward picks up movement again.
In the current bear phase has made NEO a sharp correction, we can now expect it to consolidate for a few weeks and then resumed its upward trend will continue. Currently, the 50-weeks offers SMA support, while the 20-week EMA acting as resistance.
Let’s use the key levels on the daily chart.
day graph
The NEO/USD Pair rebounded from the lows well, but is on the downward trend line and the horizontal line around the 65 Euro mark a hard resistance. Although it is the cops on the 24. April managed from the 65 Euro level, could not hold the highs and the price dropped the next day under the trend line.
Currently, we can find a floor pattern that ends with an outbreak, and above 65 Euro includes. The goal is 94 euros. Another possibility is that about 65 Euro a small resistance area is between 76 euros and 78 euros. As soon as this is exceeded, could fast the crypto-currency to 115 euros.
On the other hand, if the price is below the moving averages and 52 Euro falls, the Pair is weak and slides back to the lows of April.
we have the above information?
As it is now with the NEO / USD Pair of
long-Term investments can expect a few weeks of consolidation, but the history suggests that the next Trend should go up. Therefore, you can wait and NEO on the Dips to buy, with a Stop Loss at 32 Euro.
Short-term investments can wait for a breakout over 69 Euro Long positions with stops at 53 Euro.
dealer, follow us, and their Long-positions at 52 Euro made, should keep your Stops on the remaining Position at breakeven. Currently the crypto-currency support at the moving averages. A Bounce and a break above 69 euros should reward the dealers immensely. Therefore, keep the Position with the designated stops.
The market data were provided vonHitBTC stock exchange. The graphs and tables provided by trading view.