NEOUSD is stalling the downtrend indicated by the underlying long term bearish trend on the 1W Channel Down (RSI = 37.081, MACD = -11.565, Highs/Lows = -4.0555, B/BP = -14.5653) as a 1D Triangle (RSI = 45.534, STOCHRSI = 47.026, CCI = -19.7242, Highs/Lows = 0.0000) is supporting the price above 16.00. This is the support we are looking to cross, and a break-out is confirmation of the downtrend. Our TP remains 8.78.
nice chart! good job , i thinks neo make a range and after takdown lateraly in your target ! MANY people believe btc the moon for the end of year , i thinks the crash probably for december destroy psychological people very nice job brow !
Rezonator23
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What is your opinion for holding NEO in the long term? Are there some promising fundamentals?
InvestingScope
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@Rezonator23, There are but not before December - January when the crypto market makes the bottom of the current bear cycle.
Rezonator23
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@InvestingScope, Thank you for your honest view. Looking forward to buy NEO with discount :-)
timn91
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@InvestingScope, so in your opinion we're not quite at the bottom yet and even the most recent promising upticks (e.g. ADA) are only temporary and we'll see a continuation of the bearish market until Dec/Jan?
InvestingScope
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@timn91, That is correct Tim. We expect a continuation until Dec/ Jan. Unless of course BTC (which is the main driver of this market) shows otherwise. We will be updating of course regularly.