NEO/BTC is one of the few altcoins that was able to stay heavily afloat during this, now, bear market. As the price completes what looks to be a weak pattern, the price is approaching the of 0.00818391 and the fib retracement level of 50%.
The is at a very low level at around 28. Being oversold and testing support levels gives people a great opportunity to buy. At least in the short term as the price action and market, in general, is relatively .
If these support levels are broken, the price will probably not spike downwards unless the increases significantly soon. But there is a possibility that the price will remain and the very small descending at the end of the chart will break downwards. In this case, the price will continue to be oversold.
Important Resistance Levels: 0.0100
Important Support Levels: 0.00818, 0.006766, 0.00569
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Senior Research Analyst