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Market Analysis

NEO Technical Analysis – 3.0 Signals A Potential Change In Fortunes

“The higher up you go, the further down you have to fall.” A saying that perfectly describes NEO’s fall from the height of almost $200 in mid-January 2017 to a low of $5.50 less than 12 months later. The to say the bear market was harder on NEO than most coins, would be an understatement. Had you timed this in the worst possible manner, your investment would have (at one point) been down over 95%.

Often dubbed as “China’s answer to Ethereum”, NEO is an open-source platform designed for decentralised applications. With this weeks announcement of the v3.0 roadmap, the technical viewpoint is at a critical point, and potential upside movement could well be on the cards.

Price recently found support at the $9.60 zone, and now looks to test the ascending trendline, currently¬†holding as resistance. Should the price manage to break into the $10’s, $14 is the next key upside level, However, should this momentum not sustain, the $8.90-9.60 zone will be key.

With NEO’s all-time highs being close to $200, should the price manage to reach even half of that, in any form of bull-run.¬†The return on investment from any investment below $10 would be considerable.

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