Just as we supposed yesterday, the bulls could not withstand the tempo they imposed on themselves, and as a result, NEO fell out of the ascending price channel, marked in green.
Still, there are no causes for concern- for now, the asset just moved into a more gently inclined growth channel. Its slope is much more suitable for a long run- the only question is whether it will hold in case of a Bitcoin correction.
If the movement in the current direction continues, the mirror level $76 which coincides with the upper boundary of the channel could become the next growth target. Otherwise, the decline target indicated in yesterday's review remains relevant- it is $62, where purchases are possible, but with a mandatory installation of protective stop-loss orders.
Check the full crypto analysis HERE
Still, there are no causes for concern- for now, the asset just moved into a more gently inclined growth channel. Its slope is much more suitable for a long run- the only question is whether it will hold in case of a Bitcoin correction.
If the movement in the current direction continues, the mirror level $76 which coincides with the upper boundary of the channel could become the next growth target. Otherwise, the decline target indicated in yesterday's review remains relevant- it is $62, where purchases are possible, but with a mandatory installation of protective stop-loss orders.
Check the full crypto analysis HERE
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