I would like to offer some insights into the development of NEO price at the earliest date. The fundamental research gave us an upbeat assessment of the price last week. The news gave a boost to the price level, thus it overcame the falling pitch and broke off the falling channel. In the context of technical review, NEO has just started to rise upwards and bumped up against the line of resistance B. We will face uprising of channels’ cycle as soon as we can break through the line, however the coordinates are already set and headed to the Moon.
At this point of time there are 3 support points: 1. impenetrable level of $22,7 2. reliable level of $31,5 3. level of $42,6 which can only provide support once the previous local maximum (58,9) is broken down and set permanent.
We are expecting the following levels on a short-term horizon: 1. $59 2. $84 3. $100 is a magnet in a long run
PS. From my personal point of view, the coin is underestimated, as it hasn’t been used in full. It might follow the lead of ethereum. One can never tell if China changes ICO and digital currency control.
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at this point level of 42,6 is a solid support
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Bears can push the price down to 45. 42,6 - solid support
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Perspective: 1. Flat $62-79 2. Touch the support level $56,6 3. To the moon $91-130 i think we ll see the price of 100 per coin soon
Do you see it coming down right now? The hourly RSI seems to be overbought, and the chart seems to be due for a correction after the 5th wave
ikway
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@kash27, hello!
Due to the RSI bulls and bears came to an agreement. I cannot see an overbought now.
The NEO tool is new to the market thus Elliotte's wave theory is difficult to apply,
I would even say is not possible.
In terms of fractals we are at the very beginning of way
kash27
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@ikway, Thanks for the reply. So at what price would you buy NEO right now, and what would be your target?
ikway
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@kash27, I used to have ANS though :)
I will buy it at the time of the falls over support. The targets of short term are $59, $77, $86, $123.
However the fall is possible down to $33.
Everything happens on the market.