It seems like there is a strong battle between the NEO and Ethereum at the moment. But they differ in many ways. In particular, NEO is more of a Chinese cryptocurrency with a very strong future, that is focuses on a regulative aspect.
Ethereum, in its' turn, is a worldwide coin, with a mass adoption and use across the world. The interesting thing is that China is working towards mass adoption of the cryptocurrencies in the near future, accepting and understanding all the benefits. Considering the huge population of the China, and potential real use case, NEO yet to prove its' strength and is expected to chaise the Ethereum in terms of value.
Technically speaking, NEO/ETH has reached the bottom at ETH 0.055, where price has reached the previous low, established back in December 2017. At the same time the lower trendline of the descending channel has been rejected, and it is very possible that the downtrend could turn into the uptrend very soon.
If the current support will hold, NEO should outperform Ethereum by 250% or even 450%. The Fibonacci timezone indicator shows that the next cycle is about to start, which might result in the growth of the NEO against the ETH.
There are few resistance levels to watch, first is the ETH 0.2 level, that is 127.2% Fibs applied to the last major corrective wave down. Second is the ETH 0.3, that is 227.2% Fibs. Both of these levels are also are strong psychological resistance levels that could be reached if the current support will hold.
On a downside, if there will be a weekly close below the ETH 0.05, the trend reversal scenario shall be invalidated, and price should consolidate, at least till the next Fibonacci time zone cycle, that is until December 2018.
Ethereum, in its' turn, is a worldwide coin, with a mass adoption and use across the world. The interesting thing is that China is working towards mass adoption of the cryptocurrencies in the near future, accepting and understanding all the benefits. Considering the huge population of the China, and potential real use case, NEO yet to prove its' strength and is expected to chaise the Ethereum in terms of value.
Technically speaking, NEO/ETH has reached the bottom at ETH 0.055, where price has reached the previous low, established back in December 2017. At the same time the lower trendline of the descending channel has been rejected, and it is very possible that the downtrend could turn into the uptrend very soon.
If the current support will hold, NEO should outperform Ethereum by 250% or even 450%. The Fibonacci timezone indicator shows that the next cycle is about to start, which might result in the growth of the NEO against the ETH.
There are few resistance levels to watch, first is the ETH 0.2 level, that is 127.2% Fibs applied to the last major corrective wave down. Second is the ETH 0.3, that is 227.2% Fibs. Both of these levels are also are strong psychological resistance levels that could be reached if the current support will hold.
On a downside, if there will be a weekly close below the ETH 0.05, the trend reversal scenario shall be invalidated, and price should consolidate, at least till the next Fibonacci time zone cycle, that is until December 2018.
Comment:
NEO breaking about the trendline and the channel, uptrend is likely to continue, ETH is struggling