NEO 12H. Lack of light in the eyes and the level $13.25For more than a month now, the correction of the insane NEO growth has been going on. Uncertain buyers' breakthrough of the mark $21.56 was a catalyst for the downward wave beginning. Sellers return to the $21.56 mark motivated us to come up with an idea that worked out perfectly.
Since the idea was published, the price has fallen by 20%.
At the moment, the NEO price is moving in a local inclined channel , which looks more like a corrective movement than the emergence of a new upward trend.
Our opinion is reinforced by the trading volumes , which have decreased compared to August 2020.
Near NEO future will decide the level 18.911.
If the price can fix above $18.91, then the way will open to $20.25-21.56, as we noted in the previous idea.
If the price fails to fix above $18.91 , it will be a strong signal of buyers' weakness. In this case, the price will first go down the channel to the level $17, with a possible continuation of the fall to $13.25.
P.S. So far, BTC hasn't strongly motivated NEO buyers to skyrocket growth.
Our optimistic BTC target is $13,870. We are not sure if this potential continued BTC growth will trigger a significant change in the NEO market.
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