NEO / BitcoinUpdated $NEO - broken uptrend, resting on resistance to support flip
NEO is currently resting after a strong bullish river abated. We need to see if this will hold as support in which case we might see a moderate leg up.
A lot of the recent uptrend appears to have been driven by the Flamingo Finance DeFi project. We could see a dump after people get what they need out of that project (honestly, not that familiar with it but need to look into it).
If that all goes well then it's worth keeping an eye on NEO as an emerging DeFi platform, it has cache with boomer traders who remember the glorious pump from 2017. I would love to see this run again!
A lot of the recent uptrend appears to have been driven by the Flamingo Finance DeFi project. We could see a dump after people get what they need out of that project (honestly, not that familiar with it but need to look into it).
If that all goes well then it's worth keeping an eye on NEO as an emerging DeFi platform, it has cache with boomer traders who remember the glorious pump from 2017. I would love to see this run again!
Note
Heading to 1638 mark. Lots of chart history on this level, so would be tempted to buy at that support and see if it holds.Note
A shame about the slow bleed here but it could be an opportunity. I think Neo 3 in Q1 2021 is going to be a big deal. Chance to accumulate.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.