One of the beauty of the bear Market is, it gives good opportunity to accumulate GEMs. Neo is one such coin/token which is very attractive at the current rate. Fundamentally, Since China is thinking about its stance on Crypo Currencies, Neo is at the very strong position. It is one of the safe investment at the current rate with its penetration in term of ICOs, development to increase transaction rate per second and several other features including but not limited to earning GAS while holding Neo.
In terms of Technical Analysis, at present Neo is hanging around the support level in the falling wedge. It broke .236 Fib level support and started penetrating into the deeper and more solid support zones around 27.5 to 28.5 USD.
Ladder buying around 27 to 29 USD is considered safe to open long. Stop loss is around 23 to 24 USD. Not indicating any possible target as NEO is a GEM and long-term gain around 10X is easy in 2018 (~250 USD).
This is not Financial Advice and strictly for educational purposes only.
In terms of Technical Analysis, at present Neo is hanging around the support level in the falling wedge. It broke .236 Fib level support and started penetrating into the deeper and more solid support zones around 27.5 to 28.5 USD.
Ladder buying around 27 to 29 USD is considered safe to open long. Stop loss is around 23 to 24 USD. Not indicating any possible target as NEO is a GEM and long-term gain around 10X is easy in 2018 (~250 USD).
This is not Financial Advice and strictly for educational purposes only.
Comment:
PS: Since NEO follows BTC right now, this play may not work if bitcoin starts forming reversal trend and starts becoming bullish. Although BTC becoming bullish at this does not seem to be a case.