Crypto Screener Forums Neo (NEO) Forecast – Technical Analysis Neo (NEO) Technical Analysis – December 2017

This topic contains 3 replies, has 3 voices, and was last updated by MrHanna MrHanna 1 year, 3 months ago.

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    Topic
  • #1013
    admin
    admin
    Moderator

    This is the thread for market analysis on the NEO markets for the month of December 2017.

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  • #1110
    MrHanna
    MrHanna
    Moderator

    My view on the NEOUSD market, very bullish at the moment.

    NEOUSD forecast
    Looking to buy the dip down to $70 if she goes that low. I think we will see a quick correction before testing the ATH again.

    Short term support: $70

    Medium term support: $60

    Long term support: $48 -$52

    #1103
    margincall
    margincall
    Keymaster

    NEO has had an amazing run against the dollar before we saw sellers stepping in at the $70 – $80 zone to take some profits, the market is currently correcting alongside Bitcoin.

    Lets take a birds eye view of the NEOBTC market before we look at the dollar chart.

    neobtc forecast dec 2017
    As you can see we are still in a bearish trend vs BTC, but the prices are testing the trendline and the RSI is above 60 which is quite bullish longer term speaking.

    At this point there is a strong possibility that we test the 002 level again before we see gains against Bitcoin.

    Lets take a look at the short term view against the dollar.

    NEOUSD trading forecast
    The NEO prices dropped quite fast before finding support around $60, $30 was the start of this trend so we are still very bullish.

    The RSI and the Ichimoku cloud both indicate that we are seeing more sellers than buyers on the market and the pressure is on the bulls to keep it above $60.

    Support is $50 – $60, short term speaking. And in a dumping scenario prices could dip as low as $48 again, in which case I would expect it to get pushed back above $50 from buyers stepping in.

    NEO is looking very good as a long term investment, GAS earned from holding NEO has reached close to $40 this week, a great incentive to hodl the NEO.

    Please feel free to discuss this trade idea with me in Slack. Safe trades.

    #1014
    MrHanna
    MrHanna
    Moderator

    NEO markets still under pressure from Bitcoin as we can see the 0.0032 zone getting tested again.
    This is quite solid support for NEO, however if prices fall below this support we will be back to the same level we were at in August.

    neobtc forecast

    With all that said I think NEO is in a good spot for longer term speculation.
    As always please do your own research before investing in crypto markets.

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