After getting caught in a downward channel, Neo has seen a considerable drop. Currently long term support is trying to push NEO out of the downward movement. Current sentiment isn't favorable (with China shutting down exchanges), on the other hand in cryptoland sentiment can change in the blink of an eye.. Also the fact that Poloniex has adopted Neo's gas on its exchange might help.. pushing NEO's gas price up.. hence supporting the demand for NEO which is needed to create Gas. No matter how, a decision is bound to be made soon, since NEO is currently in the Apex of the upperline of the downward channel and rising longterm support (greenish oval).
If Neo breaks the channel on the upside look for a movement towards 0.008 region to begin with.
If Neo breaks the channel on the upside look for a movement towards 0.008 region to begin with.
Note
Testing the supportline once more. NeoGas price is seeing a big bounce again, lets see if it inspires Neo's price as well :)Note
Houston we have a lift off!Note
Attacking first target zone (0.008) once more, a convincing break makes room for further rising to the 0.01 area! Seems only a matter of time!Note
Tough cookie that first resistance and currently tough sentiment as well. Propably drop to mid/low 60's nowNote
And there we are. Touched support yesterday and bounced up a little. 4 hour RSI right @ the OS-border now.. so propebably some more recovery, be aware of a possible bearflag though. For now the upside is still my preferred scenario.
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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.