Neo describes itself as a “rapidly expanding and developing” network with the intention of laying the groundwork for the next generation of the internet — a digital economy based on digitized purchases, identities, and assets. This blockchain, unlike many others, has two native tokens: NEO and GAS. If NEO is used as an investment token which helps users to vote on blockchain changes, GAS is used to pay fees on transactions done on the network.
When we look at the chart of Neo on the 4h timeframe, we see a move to the upside that started in January and made a top on February 21st at 0,000973 BTC per Neo. Since then, the price is in a correction. We have 2 probable scenarios that we are working with. The first, and the most probable, we see one more leg down to break the 0,00060 BTC area until the price resumes its upward trajectory. The second scenario, we see the price continuing the down move and making a new all-time low, thing that would make Neo a very good risk-reward investment.
Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.