Crypto Screener Forums Neo (NEO) Forecast – Technical Analysis Neo (NEO) Technical Analysis – January 2018

This topic contains 4 replies, has 2 voices, and was last updated by margincall margincall 1 year, 1 month ago.

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  • #1206
    margincall
    margincall
    Keymaster

    This is the thread for analysis on the NEO markets in the month of January 2017.
     

     

     

     

     

     

     



Viewing 4 replies - 1 through 4 (of 4 total)
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  • #1454
    margincall
    margincall
    Keymaster

    Lets take a look at the neo markets on 1 day candles to get an idea of what is happening.

    neousd forecast
    In my opinion NEOUSD is undergoing a very healthy correction, however it is important to note that we are currently in bearish trend, not really surprising considering the markets at the moment.

    We can see that NEOUSD found strong support around $100 where prices were pushed into the $140 zone where we saw quite a lot of action before it was rejected as support and became resistance.

    Short term speaking we could see a retest of the $100 – $120 zone, and this is also where some day traders are placing some buys to catch the bounce.

    Longer term speaking I expect NEOUSD to continue its bullish momentum at some point, most likely when Asia stops having holidays.

    I see solid support at $100, but should prices break below that the longer term support zone is $60 – $100.

    Feel free to discuss this trade idea with us in Discord.

    #1361
    margincall
    margincall
    Keymaster

    Neo has been charging like a bull since it broke out of the channel last week.

    NEOUSD forecast 15 Jan 2018
    We can see that the very immidiate support is around $155 and the short term is around $145.

    It does look like we hit a double top with $170 as resistance, I would expect a retrace back down to $145 should this little bullrun fail.

    I am anticipating a breakout trade should we break above $170 with good trading volume.

    Speculators that failed to get in after taking profits at $140 might jump back into the market causing a bit of fomo.

    Prices went up very fast and I would expect a bit of a correction here, however NEO is very bullish right now, and we are not planning on selling any!

    #1299
    margincall
    margincall
    Keymaster

    Neo has really been standing out as a great performer the last two months, very solid growth with minimum drawback. (Compared to many other alts)

    Lets take a step back and look at the long term picture for NEO.

    neo usd forecast
    We can see that NEO is breaking out of its channel to the topside and if the bulls keep pushing we could see $200 sooner than later.

    Coins that have a limited supply and pays dividends to its holders, like the GAS received from holding NEO, gives them greater stability. I have been waiting to see what happens when when the fomo hits the Neo markets and it might be time.

    On the technical side we can see that the momentum is clearly bullish, but the sentiment is also overbought. I am not paying much attention to overbought/oversold at this point as we saw with BTC, when demand is big enough and supply is limited this is not a reliable indicator.

    I will wait to see if prices consolidate above $120 today before getting too excited, but the Neo train does not look like it is stopping.

     
    neousd forecast 1hr candles
     

    On the short side I see support between $80 -$100 for the immediate future.

    For the high risk traders that want to get in on the action, I would be looking to jump in from $110 – $120 with a tight stoploss below $100.

    For the safer setup, let us see where the day candle closes today before deciding on the direction, a close above $120 would be good, a close below $120 will most likely result in a bit of sideways movement and possible a retest of the bottom channel.

    #1211
    MrHanna
    MrHanna
    Moderator

    NEO has really been treating us nicely with gains agains the USD and since middle of December NEO has experienced great growth vs Bitcoin.

    NEO forecast 3 January 2018
    Since we were very early in Neo (when it was Antshares) no thoughts of taking profits here, but here is a technical report for you guys and gals.

    NEO VS BTC

    We can see the NEO broke through the previous resistance levels at 004 and 005 with easy and continued to push above 006.

    The market is incredibly bullish at the moment and the RSI is confirming that we indeed have accelerated momentum in the market.

    We could experience a correction here, where you could try catch the bounce between 0055 and 006.

    As a longer term hold I think it is still a good time to buy NEO as the project is actually still very new and we are only seeing the first ICO’s on the market now.

    NEO VS USD

    NEOUSD forecast 3 Jan 2017
    Against the USD we can also see a really bullish trend breaking through resistance at $80 and now looking at a $100 as the next stop.

    As always we could experience a pullback should the bears step out, in which case I would call support at $75, but make it between $70 – $80 to be on the safe side.

    If I was a bear I wouldn’t get my hopes to high, remember that it is usually more profitable running with the bulls than against them!

    Not selling any NEO yet, expecting massive gains into 2019.

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