NEO possible reversal

Updated

At this point we are near to a reversal for Neo.

1- Daily MA100 could act as a strong support
2- If daily MA100 fails, watch for historical uptrend.

Also daily MACD crossing and turning bullish

Note

possible reversal area for Neo.

- 61.8 fib retr.
- RSI bounced
- Macd divergance

Note

As forecast Neo is reversing.

Looking at the daily chart.

- MA100 acting as support.
- MACD corssed bullish
- Downtrend broken

Last resistance at 22.75

Note

Eyes on 4h - MA100.

After price breaking downtrend and daily MACD crossing we must zoom in at 4hr time frame.

At this point we need to break with volume MA100 to start new uptrend and possibly retest ATH.

MA100 is a strong resistance and price failed many times as we can see.

Note

Update #3

Neo has passed 4hr MA100 confirming a new uptrend movement.

As written in the past days the indicators that suggested us a probable reversal are:

- Daily MACD crossing
- RSI and MACD Hidden bullish divergence
- Downtrend broken

At this point we must look at the 22 usd resistance.
It is possible that we retest MA100 and new uptrend support

Note

Update #4. Bulls are back.

Target n. 1 : 30usd

Note

target 1: 30usd

market will need to get through daily MA50...

Note

Update #5. Target hit. 30usd.

As expected market has hit our 1st target.

Note

IF we BACA (break above close above) 30 usd

New targets will be
- target 2: 38usd
- target 3: 50usd

Note

30usd from resistance to support to continue the bull run.

Note

As per forecast NEO approaching 2nd target.

Note

2nd target hit

Note

Neo where you going?

After hitting target 2: 38usd

we can see a bearish divergence.

Expecting a correction and reversal at MA50, 26usd or MA100 before new bullish move to 47usd

Note

Neo possible reversal areas 26usd (4hr - MA100) and 22 usd ( daily - MA100)

Note

NEO consolidating above 1hr - MA100

MACD bullish divergence

Most likely we are ready for a new bull leg

Note

we are bouncing from trend support and back above daily MA50.
If support fails buy must be set at level of daily MA100

Note

NEO after hitting our target of 38 usd has been correcting.

NOW we are approaching to daily MA100 as possible reversal level

Next target is 50usd

Note

All is set for next pump

Note

As i have been anticipating the past days, NEO is ready for a new upward movement.

Market has been consolidating above daily MA50 and is ready for the big move, breaking MA100,

target is 48.45 usd

Note

Huge support daily MA100 as expected.

MACD turning bullish again

Correction seems completed after hitting our first target 38usd.

Market eyes new target

IamCryptoWolf

Also on:

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.