Before discussing NEO, let's start with a disclaimer. As we understand it, people don't think this is the most exceptional project - with or without the Chinese announcement about wanting to dominate blockchain.
With that out of the way, it looks like bulls may be in charge of the market. NEO right now is holding support from a bullish breaker. It is also not backing off from its highs. Also, the spike rally took out the "previous 4th." The previous 4th is the location where the last leg of the down move started. To be brief, NEO does have room to move if people who shorted the rally get stopped out.
Bottom Line: When a market makes a significant turn, sometimes the fundamentally worst instruments can trade the best. This was true at the 2009 bottom in risk assets as real estate ETF's traded very well on the turn higher. In the case of crypto, marginal altcoin projects may have another leg up or at least hold where they are.
With that out of the way, it looks like bulls may be in charge of the market. NEO right now is holding support from a bullish breaker. It is also not backing off from its highs. Also, the spike rally took out the "previous 4th." The previous 4th is the location where the last leg of the down move started. To be brief, NEO does have room to move if people who shorted the rally get stopped out.
Bottom Line: When a market makes a significant turn, sometimes the fundamentally worst instruments can trade the best. This was true at the 2009 bottom in risk assets as real estate ETF's traded very well on the turn higher. In the case of crypto, marginal altcoin projects may have another leg up or at least hold where they are.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.