It has been a while since I have posted! I was having a quick look at NEO, and see that it is approaching a support level.
Neo has not been at this point since the 18th of Dec 2017, price has not been here for a long time. Neo hasn't performed well this year so far.
If NEO breaks this level of support we could see up to a 44% drop to the next level of support of close to 0.002 sats!
Last time it broke this support level, it retested and then a violent fall over 3 days but it recovered back up in 10 days.
Hopefully NEO bounces here and we see a retest of resistance for a possible 26% gain. RSI is extremely oversold and MACD looks
like it may cross over. We are also approaching the end of a decending triangle (which I have not drawn in)
If you are entering this trade it would be wise to watch for which way it is going and set stop losses to protect yourself.
Either way I believe it will be making a more defined move very soon.
Neo has not been at this point since the 18th of Dec 2017, price has not been here for a long time. Neo hasn't performed well this year so far.
If NEO breaks this level of support we could see up to a 44% drop to the next level of support of close to 0.002 sats!
Last time it broke this support level, it retested and then a violent fall over 3 days but it recovered back up in 10 days.
Hopefully NEO bounces here and we see a retest of resistance for a possible 26% gain. RSI is extremely oversold and MACD looks
like it may cross over. We are also approaching the end of a decending triangle (which I have not drawn in)
If you are entering this trade it would be wise to watch for which way it is going and set stop losses to protect yourself.
Either way I believe it will be making a more defined move very soon.
Still early in the day but today's candle has now hit the top resistance of the decending triangle. If it breaks this we should see a decent push.
If it doesn't it we may retest the bottom of the triangle which isn't too far about 4%.
Hoping that we have a push as NEO doesn't have much support if it breaks down.
RSI and MACD are still very similar to yesterday.