๐ Daily TA: NEO/USD | 08-04-2021
Hello, dear members of LeoFinance!
Today I want to outline some very interesting technical patterns in the price chart of NEO.
In the monthly time frame (MN), NEO/USD has formed or is forming something similar to the Three White Soldiers formation (typical bullish formation):
However, it is worth keeping in mind that, right now, in the weekly chart (1W), the price of NEO is testing the resistance coming from the lower line of the Descending Triangle from the Bear Market in 2018: If a breakout takes place it may signal the beginning of the trend reversal.
To be continued ...
As of the time of writing, one NEO costs $61.24 on the Bitfinex crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last almost 15 years and as a cryptocurrency analyst for the last almost 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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