What Is The Price Of NEO (NEO/USDT)? A Huge Uptrend On the Horizon? NEO – Top-Down Analysis!

What Is The Price Of NEO (NEO/USDT)? A Huge Uptrend On the Horizon? NEO – Top-Down Analysis!

NEO is overall bullish trading inside the red channel and now approaching the lower trendline acting as non-horizontal support

Moreover, the green area is a horizontal Support.

So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of support in green and the red trendline.

As per my trading style:

NEO Crypto | Altcoins

I will be looking for potential bullish reversal setups on lower timeframes (like a double bottom , trendline break , and so on...)

And for the bulls to take over from a long-term perspective, we will need a break above the gray area covering the entire range / structure.

Unless NEO breaks the green zone downward aggressively, then it will become resistance again and a movement till the lower support would be expected (12.5 - 15.0)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

~Rich

Richard Nasr

Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
- Founder of RichTL, which is the first and only indicator of its kind to help traders make Objective Technical Analysis.
- TOP author on TradingView platform
- NewsCrypto.io Ambassador and Educator
- Featured on Influencive as one of the TOP 10 Forex Mentors in 2021
- Featured on many websites like Yahoo!, Market Watch, and Digital Journal