NEO - $250 PRICE PREDICTION?!
This graph gives you an idea of where the NEO price could be heading in the short-term future, we have seen a nice runup in the last couple of weeks in the value of the coin and so far it has sustained itself. Neither was it affected by the recent drop in the market that we had quite recently, this may be because of news but nevertheless, it is a good indication of a strong trend.
The Fibonacci on the graph goes from our recent high price to one of our lowest points, the 1.6% area shows a price of $250, which is only approximately 40% of what we currently are at. If we break through the previous price point we may see an even larger run-up and that is what may take us to the $250 in the medium-term. We are likely to see some strong resistance at the $200 price range.
Link to analysis- MACD - Not necessary for this analysis.
- RSI - Not necessary for this analysis.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.
It hit an all time high. Find it dificult to calal out a target but could go to $200 soon.
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It sure has, crazy to think we was $50 a few weeks ago on the dip. Yep there will be some big resistance there though. Thank you for you comment bro, wish I could upvote the same amount
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I love reading your market analyses @thomasfarley
I'm new to crypto and trading in general, could you explain the relationship of phi/Fibonacci to the analysis in terms an idiot could comprehend ?
I think I get it, but I'd really appreciate reading your take on it.
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thank you very much khufu, no problem! In simple the Fibonacci is there to give you an idea on the probable places the price of the asset is likely in the foreseeable future. These percentages can help indicate high-risk entries to the market and low-risk entries to the market. In this case, the Fibonacci correlates with the price of $250, which is a good sign to see. thanks for your comment :) Sent you a little Steem ;) More on the Fibonacci - https://en.wikipedia.org/wiki/Fibonacci_retracement
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Thanks for the explanation & the steem Thomas!
Upvoted, I don't know how to send steem.
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Haha no need to send Steem my man!!
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It has some good tie ups with the chinese biggies.
I see it much more upside than this.
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potentially :) this is for the medium-term my friend :D thanks for the comment
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For the time being I see a hanging man pattern on daily charts
And I believe NEO has topped and now heading for a correction or maybe consolidate before the next move
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It looks too Good to be true :)
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It sure does haha !!
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Gotta love neo! especially since i picked up a bunch of it at $20 :)
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that was a good decision my man haha!! thanks for the upvote, sent you a little Steem ;)
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bro, I love your analysis! But please don't send me money, cuz i feel like i should be sending you more to be honest! lol. one day you will be very big on steemit.. just keep doing what your doing. Any chance i could talk you into doing a report on OMG and Tenx in the near future? I'll send you one sbd for your time ;) I know its not much, but its something right!
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haha dont worry, thanks for the kind words!! You can, I will work on it soon! I will get back to you with a couple of links ;) No problem I always have to serve haha.
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Great post!
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thank you very much, hope it helps!
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