NEOUSD | This bullish reversal move can trigger a bigger rally
Hey friend, hope you are well and welcome to new update on NEW coin.
Lauch of NEO 3.0 Mainnet:
This is the month when the NEO 3.0 Mainnet launch is expected it can be on 31th Dec or earlier.
The market cap is increased significantly, and if we take a look at the priceline then it is already up by more than 500% from the month of March.
Previous Shark move:
In the month of April I shared an idea that produced more than 500% rally.
Previous BAT move:
After that the price action formed another BAT pattern, that I shared with you in Jun 2020, and this idea produced more than 171% rally.
Current bullish reversal move:
Now again the priceline ha formed another bullish reversal move. This time we also have a mainnet launch news at the support of this bullish reversal pattern, therefore, it may trigger a bigger rally.
Strong supports of moving averages:
On the long term weekly chart the price action is having good supports of exponential moving averages 10 and 21 and simple moving average 25 as well.
Conclusion:
Even though the charts and the overall situation is very positive in favor of bullish move, but we should use 25 SMA on weekly chart as stop loss because, if it will be broken down then price line may turn more bearish to complete harmonic move on long term.
Lauch of NEO 3.0 Mainnet:
This is the month when the NEO 3.0 Mainnet launch is expected it can be on 31th Dec or earlier.
The market cap is increased significantly, and if we take a look at the priceline then it is already up by more than 500% from the month of March.
Previous Shark move:
In the month of April I shared an idea that produced more than 500% rally.
Previous BAT move:
After that the price action formed another BAT pattern, that I shared with you in Jun 2020, and this idea produced more than 171% rally.
Current bullish reversal move:
Now again the priceline ha formed another bullish reversal move. This time we also have a mainnet launch news at the support of this bullish reversal pattern, therefore, it may trigger a bigger rally.
Strong supports of moving averages:
On the long term weekly chart the price action is having good supports of exponential moving averages 10 and 21 and simple moving average 25 as well.
Conclusion:
Even though the charts and the overall situation is very positive in favor of bullish move, but we should use 25 SMA on weekly chart as stop loss because, if it will be broken down then price line may turn more bearish to complete harmonic move on long term.
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