NEO is Still Making Subtle Gains
NEO is Still Making Subtle Gains
NEO/USD strong daily gainer, jumps 3.6% but $50.00 is still out of reach for now
NEO/USD strong daily gainer, jumps 3.6% but $50.00 is still out of reach for now
The trend is generally bullish, but the Bears are pushing for an entry around $41.5.
The MACD momentum indicator is moving further into the positive territory (+2.5).
NEO price has continued with the fireworks after breaking above the key resistance at $40.00. However, the upside is still limited below the bearish trendline as observed on the 4-hour timeframe chart. NEO/USD is still making subtle gains, similarly, it is up more than 3.6% on the day.
The trend is generally bullish, but the Bears are pushing for an entry around $41.5. The buyers must put their best foot forward to ensure the price consolidates above $40.00 before attempting to recoil to $50.00 in the medium term. The upper supply zone is at the 23.6% Fib retracement level with the last high leg at $90.4 and low $27.5. If NEO trades above this level marginally above $50.00 we could see it make advances towards critical areas at $60.00 and $70.00 respectively.
Technically, NEO/USD chart shows that the bullish trend will progress in the short-term. The moving averages gap is closing in signaling for more buying entries. NEO price also trading above both the 50SMA and the 100 SMA. The MACD momentum indicator is moving further into the positive territory (+2.5). $35.00 is a support zone, while extended declines will be stopped at $30.00 and above $25.00.
City of Zion and a decentralized exchange
Some experts seem to believe that NEO is still more than capable of going back up. In fact, many believe that it might even go to such heights that it could reach $1000 per coin by the end of this year. The way to achieve this might lead through the City of Zion.
The City of Zion is basically a name for NEO’s extremely large community of open-source designers and developers, which are all working towards the same goal. Their aim is to speed up the development of NEO’s blockchain and to create additional accessories which will help improve the entire concept of this cryptocurrency.
NEO is Still Making Subtle Gains
Reviewed by mir khaleq ali
on
13:47
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Reviewed by mir khaleq ali
on
13:47
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