In this analysis, I will be shedding light on Neo, an altcoin that used to be one of the top in terms of market cap during the 2017 bull run.
NEO currently sits at #31 on the market cap list, with $1.18b in market cap.
Analysis
- It's important to note how the volume continues to increase dramatically over time
- Prices have barely moved within the accumulation zone, yet the trading volume has reached an all time high on Binance
- It has a setup very similar to that of other major alts such as Ethereum and Litecoin, which have shown/is showing parabolic moves
- Prices are trading above the 20 Simple Moving Average (SMA) and 60 SMA.
- We are seeing a bullish descending wedge formation on the weekly
- Should we see a breakout leading prices to test previous all time high levels, the upside is an astonishing 900%.
- The fibonacci retracement demonstrates potential resistance zones
Conclusion
I believe that there is high upside potential for NEO. Especially with NEO 3.0 launching this month, we could expect a news driven breakout for this altcoin.
NEO currently sits at #31 on the market cap list, with $1.18b in market cap.
Analysis
- It's important to note how the volume continues to increase dramatically over time
- Prices have barely moved within the accumulation zone, yet the trading volume has reached an all time high on Binance
- It has a setup very similar to that of other major alts such as Ethereum and Litecoin, which have shown/is showing parabolic moves
- Prices are trading above the 20 Simple Moving Average (SMA) and 60 SMA.
- We are seeing a bullish descending wedge formation on the weekly
- Should we see a breakout leading prices to test previous all time high levels, the upside is an astonishing 900%.
- The fibonacci retracement demonstrates potential resistance zones
Conclusion
I believe that there is high upside potential for NEO. Especially with NEO 3.0 launching this month, we could expect a news driven breakout for this altcoin.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.