NEO: Potential Breakout from Falling Wedge?Hey everyone!
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NEO looks good in daily time frame. It is forming a falling wedge like structure and trying to breaks out from it. It also holds a support (Green box) very well so far. After a confirmed daily candle close expecting a good 70-80% move to the upside from here.
Entry range:- $10-$11
Targets:- $12.3/$14.4/$16.8/$19.5
SL:- $8.30
What are your thoughts on NEO's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
NEOUSDT trade ideas
NEOUSDT is up for a 300% jumpAre you one of those long-term investors? Then the NEO coin might be just for you. By the looking at the weekly chart we can observe a breakout of the long term supply zone, indicating a shift in trend. Following the breakout, price has corrected heavily, and found the support at 88.6% Fibonacci retracement level. So as can e seen, this Fib level is also a great demand zone for long term investors.
Therefore, we expect a 300% rally in the coming months. It will not be an easy and fast ride, but a bumpy one. Nonetheless, the great RR buying opportunity is open for those who see the massive potential for NEOUSDT.
#NEOUSDT Technical Analysis in Weekly Timeframe.Hello everyone, I’m Cryptorphic.
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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.
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Positive sign for potential upward movementNEO experienced a drop to the support area around $10, followed by an immediate bounce back up. This sharp rebound suggests that there is significant buying interest and strong support at this level. Such a reaction indicates that buyers are stepping in to defend the $10 support, which is a positive sign for potential upward movement.
If the current positive momentum persists, it is likely that we will see NEO testing the next resistance area in the coming days. This would imply that the price could rise further, challenging the next significant resistance level, and potentially indicating a shift towards a bullish trend.
NEONEO coin is currently undergoing a correction phase, which typically involves a temporary decline in price within an overall upward trend. During this phase, the price might take corrective liquidity, where sell orders are triggered to allow for more buying opportunities. This action can push the price higher, indicating a potential for good investment opportunities. Corrections are a normal part of market movements and can offer strategic entry points for investors looking to capitalize on future growth.
Long signal for NEO/USDTThis technical analysis is based on the daily chart of BINANCE:NEOUSDT on the Binance exchange. This analysis draws two price channels and evaluates support and resistance levels.
Price Channel Analysis:
The previous bearish channel is broken out, and a bullish channel is formed.
The suggested entry point is around 14.72 USDT.
Entry and Exit Points:
Entry: 14.72 USDT
Take Profit: 17.01 USDT (15.56%)
Stop Loss: 14.12 USDT (4.08%)
R/R Ratio: 3.81
Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 3.81, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
NEO/USDT - Support level before starting a reversalNEO/USDT is moving within an upward channel marked by two parallel orange lines. This indicates a stable uptrend. The price is currently approaching the lower boundary of the channel, which serves as dynamic support.
Additionally, the price is currently around the middle line of the Bollinger Bands. If the price can hold above this middle line, it is likely to move towards the upper band, indicating further upward potential.
Bullish Bias: if the price can stay above the support level of $14.3 and move towards the resistance level of $30.
DYOR. Not Financial Advice
Market Analysis and NEO Coin Technical Analysis🔍The market is still ranging, and we are waiting for our triggers to be activated before opening positions.
📆 Coin of the Day: NEO
About the Project
NEO is one of the older projects in the crypto space with its own blockchain, currently ranked 85 on CoinMarketCap, and part of the top 100 coins.
🧩 Technical Analysis
4-Hour Timeframe
This analysis is for trading in futures, examining different scenarios.
♟ Support and Resistance : After a bearish move, the price has found support at 14.39. Since then, the price has been ranging, with three touches at this support level. However, no single high has formed; instead, there are two resistance levels at 15.88 and 16.91.
📉 Bearish Scenario : If a candle closes below 14.39, the next bearish phase might start, with the first support target at 13.31. A break below 35.47 on the RSI could confirm the bearish momentum.
📈 Bullish Scenario : If the price breaks above 15.88, we can look for a target at 16.91. A break above 16.91 would set the next target at 19.17. A break above the 50 level on the RSI could confirm the entry of bullish momentum into the market.
Volume Analysis
The market volume has been steadily decreasing, and since today is Saturday, the volume is especially low. Lower volume indicates that the next market move could be very sharp.
👨💻 Trading Positions
Long Position
Entry Trigger: Break above 15.88
Strategy: Open a position on the break of 15.88 and wait for confirmation from the price to set the target. Consider closing the position or taking profits based on price action and market conditions.
Short Position
Entry Trigger: Break below 14.39
Strategy: Open a position on the break of 14.39 as this is a very critical level in the market. After the break, this level could provide a good risk-to-reward ratio.
📝NEO is currently ranging within key support and resistance levels. Traders should watch for breaks of these critical levels to open positions. Volume analysis suggests that the next move could be sharp due to the low trading volume, especially on a weekend. Long positions should be considered above 15.88, while short positions should be considered below 14.39. Always keep an eye on the RSI for confirmation of momentum in either direction.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
🫶If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Neousdt Trading opportunityNeousdt presents a robust reversal setup where the price has shown a notable failure to establish new lows.
This failure indicates the potential formation of an impending impulse wave, setting the stage for a new five-wave movement.
A critical area to monitor is the immediate internal supply region, where a significant structural break is expected to unfold. Should this occur as projected, it could pave the way for the price to move freely toward other internal supply areas.
I will provide timely updates as the price action evolves. Your engagement by hitting the like button and leaving your valuable comments is appreciated.
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NEO is a ticking bomb, here is whyNeo is a ticking bomb because whales have been accumulating, which can be seen on the chart. We have a pretty long accumulation zone, and once it breaks, we can expect a Tremendeus pump. You want to buy NEO Lower, wait for a breakout, or just wait for my next analysis, and I will notify you, so make sure you follow my account. From the Elliott Wave perspective, we can see that NEO has completed the WXZXZ corrective pattern in the previous bear market. Also, the main downward-sloping trendline is broken. We have a lot of positive signs for a strong bull market on NEO. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Neo’s platform allows developers to use its software to run smart contracts (known as NeoContracts) and design new programs (dapps) meant to replicate real world products and services.
NeoContracts differ from other smart contract-based protocols in that developers can build applications using a variety of popular existing languages (like C# and Java), rather than learning a new language.
Thus, NeoContract’s ability to work across various programming languages can be attractive to a larger pool of developers seeking to create dapps, or support existing ones.
Delegated Byzantine Fault Tolerant
To secure its blockchain and keep its distributed network of computers in sync, Neo employs a consensus mechanism method called delegated byzantine Fault Tolerant (dBFT).
dBFT works similarly to the delegated proof of stake (DPoS) and leverages a real-time voting system to determine which computers running the software can create the next block on the Neo blockchain. This means anyone who owns NEO can help operate the network.
Each NEO token (sometimes referred to as a Neo coin) can be locked, or “staked,” to represent a vote (the more staked NEO, the more voting power.) All owners who stake NEO then vote for the consensus nodes, who are responsible for creating blocks.
For proposing and adding new blocks to the Neo blockchain, consensus nodes receive the network’s transaction fees (paid in GAS cryptocurrency). Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
You're LUCKY to see this, NEOUSDT analysis!Hello, guys.
This is ESS team.
Let's see the NEOUSDT chart.
If candle is supported by the bottom PURPLE uptrend line, it is expected to break through the RED long-term downtrend line.
After the break through, It will reach the top green uptrend line.
After that, If it breaks through the top green uptrend line and is supported by green, It will reach the top orange upward trend line.
If it isn't supported by the lower purple uptrend line, It will
try again after accumulation with near the lower pink uptrend line.
Analysis of NEO# Analysis of NEO Time 1W currency
Considering that the price has reacted to the resistance level of the daily time, we can expect a downward correction to the support level of $11, and from the support range after a little suffering, we can see the beginning of the upward trend in the long term.