NEO (NEO/USD) Is Between The Triangle Trendlines!

3 thg 10, 2018

NEO' has been respecting both triangle trendlines. Recently, it tried to break above the upper trendline which works as a resistance but can't manage to push through from there and the bottom trendline which is also the major counter-trendline (it works as a support) has been several attempts to break through but this level has held us pretty nicely.

Currently, like the BTC' breaks through the round number area, NEo breaks below the strong support area which has been historically a good support and resistance level. Now, the price is on the on the edge, at the moment this is our last support before September low level at $16.15. If the price drops below this strong trendline then next important zone is the Sept. low where we have to watch what the BTC' does. So, currently, if BTC' drops below the $6460 then NEO' drops below the major counter trendline (counter, because the overall trend is down).

To be bullish:
1. This trendline has to hold the price
2. We have to break above the strong area (blue line)
3. We have to break above the triangle upper trendline (trendline and the blue line makes a crossing area so, this level is very hard to beat)
If it happens, then the first target would be the round number $20 and the strong area at $20.7!

Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
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