Bombs Away!!! NEO has been getting rocked this past week and we can throw the blame around a variety of recent FUD around NEO in combination with people selling off after the ONT Air drop claims. A 30% drop is never fun, but fear not, there is still light at the end of the tunnel and this could be a nice time to grab some NEO at a sweet discount. To the charts we go...
We're currently using the 4hr charts and we see our first FIB retracement level at around $100 USD. If NEO continues on the downtrend we see the next Target at around the $94 area. It's touched this target several times already this year and we usually get a nice bounce back. The major trendline we don't want to see broken is the one in green which would be a major support level. If that support is broken we can see price levels reaching targets of $70, $64, $41 areas.
I'm still long at the moment on NEO and with plenty of reasons to be, just to name a few:
- Can host dapps, smart contracts, and ICOs
- The only coin with an A rating on Weiss
- NEO pays out Gas dividends to NEO holders
- They're having constant meetups and dev conferences
- Da Hongfei has had a role in working with the Chinese government before and after the ico bans for blockchain innovation in China
These are just some of the examples I'm currently long on NEO. As always, Do Your Own Research though and decide for yourself before investing in any coin.
Will be updating this post as we follow NEO closely the next few days. Feel free to hit the thumbs up on the post.
Cheers!
We're currently using the 4hr charts and we see our first FIB retracement level at around $100 USD. If NEO continues on the downtrend we see the next Target at around the $94 area. It's touched this target several times already this year and we usually get a nice bounce back. The major trendline we don't want to see broken is the one in green which would be a major support level. If that support is broken we can see price levels reaching targets of $70, $64, $41 areas.
I'm still long at the moment on NEO and with plenty of reasons to be, just to name a few:
- Can host dapps, smart contracts, and ICOs
- The only coin with an A rating on Weiss
- NEO pays out Gas dividends to NEO holders
- They're having constant meetups and dev conferences
- Da Hongfei has had a role in working with the Chinese government before and after the ico bans for blockchain innovation in China
These are just some of the examples I'm currently long on NEO. As always, Do Your Own Research though and decide for yourself before investing in any coin.
Will be updating this post as we follow NEO closely the next few days. Feel free to hit the thumbs up on the post.
Cheers!