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The price of NEO has been really down, even in compare to other assets. It is actually on the very same level where all the hype started in november!
Since the break the price is moving in a perfect downtrend channel (on a log scale, if you´re watching the usual one, it is a falling wedge). At the moment we´re very near the support line.
So the scenario I await ...
Just some scenario casting here on NEO/USDT, I am personally in favour with a long scenario although i am completely aware we're in a bear market. I am not expecting it to unfold anytime soon, in fact i expect it to consolidate between the current lows and the $80 region on the higher timeframes (weeks possibly months) before continuing on.
Neo will almost begin its ABC correction cycle, that is the safest place to buy. After that we can expect upwards movement and maybe a new all time high
The NEOUSDT exchange rate correction is slowly coming to an end. The exchange rate tests the flatter ATR axis. If you can rise near the correction level of 26.5428038, then this motion is more momentous. Because the exchange rate moves along a steeper ATR axis. I expect the increase of the target price to rise to 37.7138107.
Noticed strong repeating pattern for NEO/USD, The two yellow price lines are clones, RSI showing oversell, Still learning but lets see how this pans out :D
NEOUSDT's exchange rate corrective action. It is assumed that the price reduction will last until the level of adjustment of 41,00,000. We expect a further rise from this level. The primary purpose of the increase is 70,00000.