As Bitcoin', so as almost all the altcoins have made a breakout below the major counter-trendline which indicates bearishness and at the moment, NEO' is down 13 percent from the yesterday's crash and it trades below the mentioned trendline and below the support levels.
It has broken all the important support levels and the only one what is left is an August low level which is also 2018 lowest point at $13.68. If the market doesn't show us that power which will guide us to the higher prices then NEO' start to approach the 2018 low level.
Around this area is also Fibonacci extension levels, at $14.27 is a 141 percent and at $13.33 is a 161 percent extensions.
To invest into the NEO' is a bit risky because the current bounce came from nowhere and we don't have a clear picture of what it could do next and currently, NEO' price movement depends very strongly from Bitcoin movement.
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It has broken all the important support levels and the only one what is left is an August low level which is also 2018 lowest point at $13.68. If the market doesn't show us that power which will guide us to the higher prices then NEO' start to approach the 2018 low level.
Around this area is also Fibonacci extension levels, at $14.27 is a 141 percent and at $13.33 is a 161 percent extensions.
To invest into the NEO' is a bit risky because the current bounce came from nowhere and we don't have a clear picture of what it could do next and currently, NEO' price movement depends very strongly from Bitcoin movement.
If You are interested in the latest cryptocurrency news, coin reviews and breaking stories from the world of blockchain then visit our website! (The LINK is on the profile)
Hopefully, this analysis helped You out a little bit to confirm your own analysis and if You appreciate what we do here then hit the LIKE button!
Best regards!
