Neo is on the major counter trendline (short-term up-trendline) and if the BTC' finds the support from the current Fibonacci level at 62% then NEO' has a pretty good and safe platform to bounce upwards because the price structure forms the higher low!
The first target would be around 5% where is the historically strong support and resistance area plus different EMA's starts to work as resistances.
The second target would be around 12-15% gain, there are the short term triangle upper trendline and 200EMA.
If we don't find that power to climb upwards and the BTC' continues it's dropping then it's a simple case - first bad sign is a close below trendline which currently work as a support and the second confirmation would be short-term lower low close around $16
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
If You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
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Best regards!
The first target would be around 5% where is the historically strong support and resistance area plus different EMA's starts to work as resistances.
The second target would be around 12-15% gain, there are the short term triangle upper trendline and 200EMA.
If we don't find that power to climb upwards and the BTC' continues it's dropping then it's a simple case - first bad sign is a close below trendline which currently work as a support and the second confirmation would be short-term lower low close around $16
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
If You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
Please, don't forget to hit the LIKE button to support us!
Best regards!
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