Huobi x CoinMarketCal 👀A Coin To Keep An Eye On- NEO!
🔹What is NEO?
Neo is an open-source, community-driven platform that is leveraging the intrinsic advantages of blockchain technology to realize the optimized digital world of the future.
📅Event: NEO 3.0 TestNet is coming in Q1 2021, MainNet will not be far behind per coinmarketcal.com.
📈Analysis
January saw a 91% spike in price into the resistance beginning near $26.147. This move swept September’s swing high, which might set the stage for retracement and reaccumulation.
The previous high and brief reaccumulation near $21.292 has so far provided support, making it a reasonable place for bulls to begin building positions.
A deeper drop to run stops and test the daily gap beginning at $18.524 is likely to meet support. This area has confluence with a monthly level and a consolidation zone.
Bulls could target the most recent swing high near $26.715. A break of this resistance zone is likely to reach near the old monthly high at $30.289.
Resistance near $32.156 could cause the price to pause. However, a break of this level is likely to proceed to resistance under the next monthly high, near $43.239.
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