NEOUSDT
Trading idea: NEO/USDT - an old favourite that may run in 2021Many thanks to Michael Wang for reminding me to take another look at this old favourite altcoin (check out his excellent analysis under 'related ideas').
I have charted this before many times. NEO used to be a hyped project but has somewhat fallen out of favour, however what often gets forgotten is that the team are very active and continue to build and work on the project, while so many other 2017 alts have bitten the dust.
NEO 3 is coming in Q1 and I expect this to have a run this month. There was some buzz around Flamingo Finance launching on NEO back in DeFi summer, which shows you that the platform can still achieve relevance even in the current market. I prefer this over other, more 'famous' altcoins that have failed to move forward since 2017/18.
The mid 30's is a key psychological level for NEO and I can see it running up to this area, from there we'll have to see.
As a rule, I'm not rebuying many of the 2017/18 altcoins as I believe the newer projects (like DOT) to have more potential for price growth in coming years.
NEOThe Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
Shedding light in an underpriced asset | NEOUSDT SpeculationDropped from its $200 ($198 to be exact) ATH during the 2017 bull run. Made it to $3 per NEO. Now price is in a huge accumulation phase. We don't have any official news that institutions are buying this too, but the signs are indicating that we might be too close to end this period. Once the bull flag pattern is broken we can blindly buy on the breakout and expect to see that more people will think the same way.
Short term target lies around $35 and it extends till sub-50. Nothing more to say. One picture equals 1000 words and those who are brave will be blessed when it's all over. Crypto game in 2020-2021 require some balls of steel.
Let's see how NEO will play out in the next days.
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NEO/USDT: An Overlooked Altcoin with High Upside PotentialIn this analysis, I will be shedding light on Neo, an altcoin that used to be one of the top in terms of market cap during the 2017 bull run.
NEO currently sits at #31 on the market cap list, with $1.18b in market cap.
Analysis
- It's important to note how the volume continues to increase dramatically over time
- Prices have barely moved within the accumulation zone, yet the trading volume has reached an all time high on Binance
- It has a setup very similar to that of other major alts such as Ethereum and Litecoin, which have shown/is showing parabolic moves
- Prices are trading above the 20 Simple Moving Average (SMA) and 60 SMA.
- We are seeing a bullish descending wedge formation on the weekly
- Should we see a breakout leading prices to test previous all time high levels, the upside is an astonishing 900%.
- The fibonacci retracement demonstrates potential resistance zones
Conclusion
I believe that there is high upside potential for NEO. Especially with NEO 3.0 launching this month, we could expect a news driven breakout for this altcoin.
NEOUSDTNEO is making a very big flling wedge which is supporting as well, we might see a huge break out
NEOUSDT Gonna BullishNEOUSDT Gonna Bullish & try to breakout symmetrical triangle with bullish divergence.
1st TP is 18.1
NEOUSDTNEO hit the channel support and which is also the FIB618
You can buy now or wait for the retest of channel support and head towards the channel resistance @29
