NEO Holds Up Against Bears
Unlike Ethereum, NEO has already fallen out of all possible channels (even the exotic curved one). Before a full recovery, the asset will have to overcome the $75 mark, which is where the resistance is now. Although, this will become a problem only in case of a prolonged lateral movement by Bitcoin.
Potential areas of further decline in case of negative developments are $69 - at the level of previous lows - and then $64, which coincides with the mirror level and the 0.5 value of Fibonacci retracement.
Near the second goal lies the boundary of the long-term descending channel, the breaking of which will be actively resisted by buyers with a likelihood approaching 100 percent. Let’s not forget about the $60 mark, important for NEO, but for now such success for the bears does not look realistic.
Check the full review HERE
Potential areas of further decline in case of negative developments are $69 - at the level of previous lows - and then $64, which coincides with the mirror level and the 0.5 value of Fibonacci retracement.
Near the second goal lies the boundary of the long-term descending channel, the breaking of which will be actively resisted by buyers with a likelihood approaching 100 percent. Let’s not forget about the $60 mark, important for NEO, but for now such success for the bears does not look realistic.
Check the full review HERE
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