So as everyone knows it can be quite difficult to predict future prices, but we have tools to help. To put it bluntly - there's a story and a chart - as they say. And I think NEO has both going for it right now.
- The story. Neo is launching an ICO off the NEO blockchain come February 1st, called TheKey. Do your research on the ICO but it looks promising in my eyes. But that's the story Neo has going for it - you will have to buy "TheKey" ICO with Neo tokens, after the presale and the ICO goes live.
2)Now onto the charts. We can see here Neo has a nice descending wedge formed with a bull flag. Wedges are one of the most powerful indicators that a coin or what have you is either going to experience strong price action, either negative or positive. However here we have a descending wedge, a very bullish wedge, indicating that Neo's wedge should spike the price (ascending wedges are bearish, just FYI).
- As we can see by the bollinger bands (the blue bands surrounding the candles) they are very narrow and close to the candles. This indicates again that future price volatility is about to come, but with the descending wedge forming I tend to think the the price volatility will be upwards.
- The RSI and MACD are fairly neutral, not quite confirming my bullish prediction, but they certainly don't go against the thesis. Given the above facts, I think the RSI and MACD will start showing bullish signals within the next few days.
Just my 2 cents, not financial advise. But I'm keeping a close eye on Neo and think it may be a wise to do so as well.
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This post has received a 3.13 % upvote from @drotto thanks to: @ant884.
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