Neo has broken out significantly to reach $139 at the time of this writing. This momentum seems to confirm entry into wave 3 of the impulse wave, and we hope that momentum will continue. The Kovach OBV remains bullish, but the Kovach Chande appears to have bottomed out, and is beginning to turn bullish suggesting there is more in the tank. We are currently facing resistance at the upper bound of the KRI. We have support from below at the upper bound of a congestion zone at $136, a Fibonacci level at $129, then the central moving average at $120, then $115, then from a Fibonacci level at $110, and finally from the psychologically significant $100. If we can break through to the $140's, there are some significant obstacles, including the upper bound of the KRI at $140, then at $144 from relative highs and a Fibonacci Fan level at $146.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
For daily commentary on cryptocurrencies, subscribe to our newsletter!
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!
For daily commentary on cryptocurrencies, subscribe to our newsletter!
Join my discord at discord.io/quantguy
