#NEOUSDT Technical Analysis in Weekly Timeframe.
Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.
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Now, let’s dive into this chart analysis:
NEO has been in a long-term bearish trend constrained by a descending resistance line, with a strong support zone identified between $5 and $8.6.
Historical price movements show significant volatility, with notable peaks in 2018 and 2021.
The recent price drop indicates a possible correction phase, but the analysis suggests a bullish outlook for the future, with a potential target of around $80 if the price can break past the $21 to $24 resistance levels.
The moving average serves as an additional indicator for trend analysis, supporting the potential for a future upward move.
Key Observations:
~ Support/Entry: $5 to $8.6.
~ Resistance/Initial Target: $21 to $24.
~ Long-term Target: $80.
~ Invalidation Point: A breakdown below the support line.
DYOR, NFA.
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE
For the past seven years, I’ve been sharing insightful charts and analysis.
Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.
Now, let’s dive into this chart analysis:
NEO has been in a long-term bearish trend constrained by a descending resistance line, with a strong support zone identified between $5 and $8.6.
Historical price movements show significant volatility, with notable peaks in 2018 and 2021.
The recent price drop indicates a possible correction phase, but the analysis suggests a bullish outlook for the future, with a potential target of around $80 if the price can break past the $21 to $24 resistance levels.
The moving average serves as an additional indicator for trend analysis, supporting the potential for a future upward move.
Key Observations:
~ Support/Entry: $5 to $8.6.
~ Resistance/Initial Target: $21 to $24.
~ Long-term Target: $80.
~ Invalidation Point: A breakdown below the support line.
DYOR, NFA.
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE
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