NEO (NEO/USD) - Breaks Above The Triangle/Needs More Than That
NEO has started to show a pretty bullish price action, it has a breakout from the triangle upper trendline and currently, it attempts to do a breakout above the round number $20. NEO has left behind the EMA's plus 50 and 100 EMA's starts to make a golden gross which will indicate that the bull run may continue but currently we have to fight with the strong resistance level.
Since Sept. 6 it has tried to break this two times and now is the third time. If it finds that power to bush through (if BTC manages to bush through $6,767 then definitely NEO makes the same move and it breaks above the $20.7) then the next and the minor short-term target would be around $21.5 where is the trendline (bit sloppy but still remarkable) and the next target is around $25. There are the last bigger resistance area and the Fibonacci retracement 50%. From the price structure perspective, this is also an important level, because if NEO' manages to break above that resistance then we have a higher high so, a pretty significant level what You have to watch!
Bearish confirmation would be that if we lose the momentum and it can't break above the $20 plus if it drops back below the triangle. This shows that NEO' tries to make breakouts but can't find that power and can't catch those buyers who want to buy higher prices!
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
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Since Sept. 6 it has tried to break this two times and now is the third time. If it finds that power to bush through (if BTC manages to bush through $6,767 then definitely NEO makes the same move and it breaks above the $20.7) then the next and the minor short-term target would be around $21.5 where is the trendline (bit sloppy but still remarkable) and the next target is around $25. There are the last bigger resistance area and the Fibonacci retracement 50%. From the price structure perspective, this is also an important level, because if NEO' manages to break above that resistance then we have a higher high so, a pretty significant level what You have to watch!
Bearish confirmation would be that if we lose the momentum and it can't break above the $20 plus if it drops back below the triangle. This shows that NEO' tries to make breakouts but can't find that power and can't catch those buyers who want to buy higher prices!
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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