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Short

NEO. Consolidation on a falling trend.

BITTREX:NEOUSD   NEO / U.S. Dollar
NEO after a quick rebound to $ 80, fell again and got pinned to the upper boundary of the medium-term support area of about $ 50.
Short-term balance of sellers and buyers is found: for a few days the quotes were within a narrow range.
Meanwhile, MAcross on the weekly chart rushed towards the signal for sale.
According to all the indications, this mid-term trend is a falling one. Now there is a consolidation near local minimums. And further decline is more likely.
Nevertheless, the upside turn potential is already quite big and it can begin to be realized at any time.
A good place to open short positions is seen in the area around $ 80. The targets at new minimums are under $ 50.
If the quotes are fixed below $ 50, then the risk of a big fall is quite high: the rate might fall to about $ 15 and lower.
Given that a year ago, NEO was worth less than $ 0.20, $ 15 - is a very good price for sale.
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