We noticed that recently NEO and Ethereum, being assets of the same type, are moving together. Today, once again, NEO is showing results that are similar to its big brother. The initial purchase volume, which we saw on Monday, continues to influence the price- the interest of buyers has subsided somewhat but remains consistently high compared to last week.
The immediate goal for the bulls is $58- it coincides with the 0.382 Fibonacci extension and the mirror level. To achieve it, the boundary of the parallel descending channel, which stopped growth the last time, will have to be overcome. If this is accomplished, then even a double top at the level of the previous local maximum is unlikely to help the bears hold back the onslaught.
Just like Ethereum, NEO is gathering a reserve of resilience in case the heavyweight Bitcoin gives the market a cold shower again. The level of $44-$45 is a relatively reliable support for the asset, and the price is moving away from it more and more.
Check FULL crypto analysis HERE.
The immediate goal for the bulls is $58- it coincides with the 0.382 Fibonacci extension and the mirror level. To achieve it, the boundary of the parallel descending channel, which stopped growth the last time, will have to be overcome. If this is accomplished, then even a double top at the level of the previous local maximum is unlikely to help the bears hold back the onslaught.
Just like Ethereum, NEO is gathering a reserve of resilience in case the heavyweight Bitcoin gives the market a cold shower again. The level of $44-$45 is a relatively reliable support for the asset, and the price is moving away from it more and more.
Check FULL crypto analysis HERE.
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