NEO - Time for higher lows?
Updated
Good evening traders, lets talk about our asian beloved token, NEO.
As you can see, NEO has been doing lower highs since his ATH above 190 USD.
Now the trend appears to be changing since NEO just made a higher high and is moving to make a higher low, however, the price action after a pin bar gave us a warning alert, we need to wait more confirmation.
We need to keep a closer look on the price action on the next few hours to see where NEO is willing to go, a break and close below the uptrend will tell us that NEO doesnt want to moon, not YET and we will have a good opportunity to add more NEO on dips.
On the other side, if NEO doesnt break the uptrend, it'll be the confirmation for a trend changing and NEO might reach older resistance levels.
The first resistance level will be around 138 USD, the previous swing high.
For medium and long term, NEO has all it need to reach his previous all time high and beyond.
As you can see, NEO has been doing lower highs since his ATH above 190 USD.
Now the trend appears to be changing since NEO just made a higher high and is moving to make a higher low, however, the price action after a pin bar gave us a warning alert, we need to wait more confirmation.
We need to keep a closer look on the price action on the next few hours to see where NEO is willing to go, a break and close below the uptrend will tell us that NEO doesnt want to moon, not YET and we will have a good opportunity to add more NEO on dips.
On the other side, if NEO doesnt break the uptrend, it'll be the confirmation for a trend changing and NEO might reach older resistance levels.
The first resistance level will be around 138 USD, the previous swing high.
For medium and long term, NEO has all it need to reach his previous all time high and beyond.
Note
Neo followed the panick sell on BTC , now we need to see how price action will behave on this zone, however, as i've said, for medium and LONG term this is a good position to add neo.For short term we need to wait for a reversal sign.
Note
NEO is going down with the whole criptomarket, for now, need to wait and see how price will react to 90-95 level if it reach it.For long and medium term, there is no problem at all, this is a strong coin and will recover.
Note
WEll, the price dropped a lot because of BTC and criptomarket FUD, NEO is in a very good range to buy for LONG term.
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.