A week ago I wrote the most possitive scenario for Neo's price in the near future would be a neutral range. After leaving the apex of the triangle Neo formed a lower high and indeed went on sideways till today. Horizontal support broke, the drop stopped at an old peak-price. Then former horizontal support got back tested and now serves as resistance, the break of this supportline is a fact! For now we are confined between former support around 0.0081 and renewed support at former peaks price around 0.0064. On short term a revisit and maybe even a break of 0.0064 seems more likely than regaining the 0.0081.
Note
Take a fresh look and lifted the horizontal supportline a little something, as it has more touchingpoints this way.. result is that we are just on top of it, right now! Can it stop the pricedrop again?!Note
Fast down now.. after chinese government ICO ban. Bad news for NEO which considered its self Chinese Eth. Horizontal support around 0.0039 levelNote
Some rebound today, but downward danger not over. More in new analysis!
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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.