[$NEO] Don't sleep on the chinese $ETHHello everyone,
Hope everyone OK !
Some analysis on the Chinese $ETH , $NEO is becoming more communicative on their new DeFi projects with NEO3.
Some a technical point of view, there is a really good signal at the moment wiht this set up : Price above Cloud , Tenkan & Kijun following the new trend & finally the Laggin Span pumping out of the cloud on the Daily.
3D TF we hit the SSB ( upper band of the bearish Ichimoku Cloud)
Volume are coming in and more NEO community, more the PA will move ;) It's a new turn at the moment for really good altcoins project !
TOP50 altcoins marketcap is reversing strongly vs. $BTC.
$NEO is clealy painting a new cycle after this long bear market with slow congestion. Accumulation last more than 1 year and half ! Let's go out this zone and rock resistance !
Keep on eye on it :)
NB: It's not a financial advise ;)
Trade safe , Stay safe
PEACE
NicoDonCrypto
Antshare
NEO (Y19.P01.E01).Still BullishNeo has made a remarkable turn and many attribute this to the Chinese governments public stance on blockchain technology.
So it seems many of the local blockchain projects got pumped, including VET, ONT, etc
If you look at the NEO daily chart, we can see its completed the MACRO Ascending pattern (ABCDE), with the bottom found at the 0.886 Fib level (retracement).
Then we can observe a bull flag and a continuation of this bullish trend.
If you look across the 0.5 fib level, one can see that it played a major resistance as well as the 0.382 level.
Hence I anticipate with the help of the ADX and DI chart, that the strength of the buying direction (black line - hit all time high) will start to descend along with the green line.
I anticipate in the short term, hitting 0.5 fib level around $13 and potentially the 0.382 (likely) fib. level before it runs out.
The RSI is indicating we are near the overbought region.
In my mind, it has confluence with the anticipated bitcoin consolidation and anticipated next parabolic advance early next year.
Please give us a thumbs up for a like or agreement
Cheers,
S.Sari \ CryptoProspa
Close up
