NEOUSD inside a channel - Watch it to help your trades

TomCrypto

full member

Activity: 715

Merit: 220

The support annonced previously at 28.5 $ worked quite well and we have witnesses a good rally on Neo helped with the current upward BTC movement.

We are currently at a FIB resistance around 36$ coupled with the top of the descending channel between the two purple lines.
If we break those two resistances we will go to 39$. But i think we may go back to 33$ in order to gather new strengths. And a lot will be dependant on BTC current situation

TomCrypto

full member

Activity: 715

Merit: 220

Still inside two descending channels (the black one and the purple one)

Next support is at 28.5-29$. Wait and see

TomCrypto

full member

Activity: 715

Merit: 220

We are still inside this big descending black channel.
NeoUSD is near a FIB Support at 44$. It may bounce from there to go to the top of the channel.

TomCrypto

full member

Activity: 715

Merit: 220

The previous prediction was not so bad. NEO broke the resistance at 80-83 and then tested the top of the black descending channel.
It didn't break the channel and now NEO is gathering new strength for another run.
The next support is around 69$, Neo may go there before trying another time to break the top of the black channel.

TomCrypto

full member

Activity: 715

Merit: 220

Following the break upward two weeks ago, NEO USD went from 45$ to 78$.

We are now approaching a FIB resistance at 80-83$. NEO will test it : if the resistance is broken upward, NEOUSD will test the top of the descending channel.
If not NEOUSD price will decrease a little in order to gather some strength before another attempt.

TomCrypto

full member

Activity: 715

Merit: 220

After a very nice test of the FIB support at 44$, NEO managed to bounce and even to break upward the triangle! This breaking upward led as expected to a nice price increase towards 58$ today.
But unfortunalty, NEO price was completly ruined by BTC downward fluctuations (BTC is the king! https://bitcointalksearch.org/topic/bitcoin-in-a-triangle-watch-it-closely-3185134) and the price of NEOUSD came back below 50$.
We now have to follow how NEO move inside the descending channel.

shulio

legendary

Activity: 1540

Merit: 1016

Until BTC enters the bullish season, no altcoin will profit against USD. It is very risky to invest in alts right now unless you have spare fiat that you do not need in the near future.

TomCrypto

full member

Activity: 715

Merit: 220

I also try to analyse BTC (https://bitcointalksearch.org/topic/bitcoin-in-a-triangle-watch-it-closely-3185134) and I know that the king remains the king! But i was bored so I made some TA on other coins ;p

Camorra Dev

full member

Activity: 294

Merit: 100

No point to analization any alt coins now , better to see on bitcoin now , its correlation on them . We need analys bitcoin better to understand what will be with all markets and with alt coins.

TomCrypto

full member

Activity: 715

Merit: 220

The top of the triangle (red line) acted like a strong resistance and NEOUSD didn't manage to break the triangle.
Now NEOUSD may go to 42$-44$ range (Fib Resistance and bottom of the channel) to gather some strength before testing the top of the triangle again.

TomCrypto

full member

Activity: 715

Merit: 220

NEOUSD is currently inside a descending channel (the two black lines) and bounced from the bottom of it two days ago.

Moreover NEOUSD has formed a triangle between the bottom of this channel (black line) and the red line.

We have to watch out how NEOUSD is performing regarding this triangle and this channel.

If we broke the channel down, we may go to the next support at 30-33$.
If we broke the triangle up, we will go to the higher part of the channel and to the next resistance around 80$.

My custom indicators are all on their lower part and I tend to think that there is plenty of room for NEO to raise. Moreover several ICO will use NEO this years which is good for neo price!

Good luck on your trades.

Topic: NEOUSD inside a channel - Watch it to help your trades (Read 159 times)