NEOUSD - Inside a Channel
Updated
NEOUSD is currently inside a descending channel (the two black lines) and bounced from the bottom of it two days ago.
Moreover NEOUSD has formed a triangle between the bottom of this channel (black line) and the red line.
We have to watch out how NEOUSD is performing regarding this triangle and this channel.
If we broke the channel down, we may go to the next support at 30-33$.
If we broke the triangle up, we will go to the higher part of the channel and to the next resistance around 80$.
My custom indicators are all on their lower part and I tend to think that there is plenty of room for NEO to raise. Moreover several ICO will use NEO this years which is good for neo price!
Good luck on your trades.
Moreover NEOUSD has formed a triangle between the bottom of this channel (black line) and the red line.
We have to watch out how NEOUSD is performing regarding this triangle and this channel.
If we broke the channel down, we may go to the next support at 30-33$.
If we broke the triangle up, we will go to the higher part of the channel and to the next resistance around 80$.
My custom indicators are all on their lower part and I tend to think that there is plenty of room for NEO to raise. Moreover several ICO will use NEO this years which is good for neo price!
Good luck on your trades.
Note
The top of the triangle (red line) acted like a strong resistance and NEOUSD didn't manage to break the triangle. Now NEOUSD may go to 42$-44$ range (Fib Resistance and bottom of the channel) to gather some strength before testing the top of the triangle again.
Note
After a very nice test of the FIB support at 44$, NEO managed to bounce and even to break upward the triangle! This breaking upward led as expected to a nice price increase towards 58$ today.
But unfortunalty, NEO price was completly ruined by BTC downward fluctuations (BTC is the king!) and the price of NEOUSD came back below 50$.
We now have to follow how NEO move inside the descending channel.
Note
Following the break upward two weeks ago, NEO USD went from 45$ to 78$.We are now approaching a FIB resistance at 80-83$. NEO will test it : if the resistance is broken upward, NEOUSD will test the top of the descending channel (black lines).
If not NEOUSD price will decrease a little in order to gather some strength before another attempt.
My customs indicators are on their higher part and suggest it may not be yet the time to break the FIB resistance
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