Hello Lads and Ladies,
Today we are looking into NEOUSD. Many people were discussing and looking into NEO the last month. As well, they were questioning what is happening with it and where it is heading to.
So as we see todays' chart. NEOUSD is located around $53. Since the January 15th NEOUSD has been in a constant downtrend, as we see in the chart highlighted in yellow and red colours. The red line indicates a very strong resistance because it has been confirmed (touched) multiple times but not crossed even once. Symmetrically below this line there have formed multiple "support lines" between which the chart has been moving. The yellow filled arcs are indicating the possible price range in an approximate 2 month timeframe. After each timeframe it has been reduced by one support line.
As we are clearly coming to an end of the downtrend, we can even see that the chart has no interest in testing the possible price range (yellow filled arc).
Anyhow, there has been forming an uptrend channel within the downtrend period, which is indicated with purple colours.
In case of an, in my opinion, very likely uptrend breakout NEOUSD will locate itself in the indicated uptrend channel. Here, it would have major support and resistance lines at which it would have bigger movements.
Therefore, it is also very important to keep in mind that NEOUSD has very strong support lines at $30, $50, $80, $100.
Ending the downtrend and pushing upto $80 has, based on the indicators, a 70% chance.
Following the downtrend towards $30 and having a major bounce from there has a 30% chance.
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Cheers, Tomas
Oh I do hope so, I was bullish on this project when I first got in in January but all it has done is eaten my cash value. I don't think I'll recover my investment but would definintely like to gain some back besides the GAS.
Oh, I am pretty sure that you will have more than your investment back. Especially if it enters the indicated uptrend! I see in the last couple of days that there are more and more coins that are coming to an end of the downtrend and have to decide where to go. I really do not see a real reason why the market should have a crash again. Therefore, I strongly believe that the second half of the year will be VERY lucrative for us all!
Totally agree. The green giant is just sleeping. When it goes...it will fly.
way too underrated at the moment