NEO has suffered from the panic selling across all the crypto yesterday. The bears took it to $193 levels. This level proved to be a good support, it is 61.8 percent Fibonacci retracement levels of the recent rally from $25 to $200.
Moreover, NEO is still trading above The 50-day SMA which is quite positive. On the way up we expect $135 level will show some resistance and just above it, there will be the trendline. Therefore, we only recommend open long on a break out off the trendline.
Any dips will find support from the 50-day SMA and then $193 level.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.
Moreover, NEO is still trading above The 50-day SMA which is quite positive. On the way up we expect $135 level will show some resistance and just above it, there will be the trendline. Therefore, we only recommend open long on a break out off the trendline.
Any dips will find support from the 50-day SMA and then $193 level.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.
Comment:
I meant to say $93 levels, not $193. Sorry for that