NEO (Antshares) Technical Analysis And NEO Price Prediction For 2017

NEO, a Chinese-based alt-coin, formerly known as antshares, jumped around 25% overnight after an article quoting NEO founder Da Hongfei hit the wires. The Dutch financial news outlet Het Financieele Dagblad wrote that Hongfei was consulted by Chinese authorities on the recent ICO ban, while also speculating on the possibility that NEO may play a part in the Chinese blockchain infrastructure. In August, NEO surged from around $10 to $60 in less than two weeks on talk of a potential Chinese tie-up.NEO (Antshares) Technical Analysis And NEO Price Prediction For 2017

NEO (formerly Antshares) has been on a roller coaster ride over the past month. It has been all the way up to about $60 and all the way down near $28. I have been searching through a bunch of Facebook groups and forums and I have noticed that a lot of people are freaking out. They do not know what they should do with their holdings.

The video above does a great job of explaining what I believe is going to happen over the next few weeks. The short-term 15-minute chart shows that there are a support and a resistance between $35 and $28. In the overall 4-hour chart, it looks like the historic support sits at around $27. With that in mind, the chart has been in a bearish trend over the past month. As you noticed in the video, the high-level trend line and the low-level trendline are converging in the shape of a triangle."NEO (Antshares) Technical Analysis And NEO Price Prediction For 2017"

The triangle shape most likely means that a breakout is going to occur. It does not say which way the breakout will occur but the likelihood is fairly high. After doing this analysis, I came to the conclusion that I am personally going to set a sell order at around $26-$27 per coin. I think that is a safe way to protect myself against further losses. With that in mind, I personally think that the coin is going to bounce back into the range of $32-$35. I think that the support line that we are at has shown enough support to hold it from breaking through.

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