While other coins crashed down and crossed different support lines, NEO stayed within its positive trend channel.
It came back from overbought (out of trend channel) to nearly oversold (within trend channel).
Therefore it crossed only one support line (now resistance) and is fighting to regain this line.
A move from up to down has been expected (see arrows) - and I´m pretty sure that without the crash it would have been much less worrying. Nevertheless, NEO has stayed within the trend channel, stopped at lower limit and could now rise (without much dynamic).
Probably we see a sideways direction before the resistance line could be broken.
You can wait for it or invest with more risk.
In my opinion the fundamental data (China and South Corea) don´t cause a new decline and the technical analysis doesn´t give a new argument for another crash (but is still negative!!).
Of course it´s possible that the two-day-crash hasn´t ended yet and NEO could break through the lower limit of the trend channel.
There´s a lot of negative momentum in the whole market. You act on your own risk.
STOP: leaving trend channel to the bottom
It came back from overbought (out of trend channel) to nearly oversold (within trend channel).
Therefore it crossed only one support line (now resistance) and is fighting to regain this line.
A move from up to down has been expected (see arrows) - and I´m pretty sure that without the crash it would have been much less worrying. Nevertheless, NEO has stayed within the trend channel, stopped at lower limit and could now rise (without much dynamic).
Probably we see a sideways direction before the resistance line could be broken.
You can wait for it or invest with more risk.
In my opinion the fundamental data (China and South Corea) don´t cause a new decline and the technical analysis doesn´t give a new argument for another crash (but is still negative!!).
Of course it´s possible that the two-day-crash hasn´t ended yet and NEO could break through the lower limit of the trend channel.
There´s a lot of negative momentum in the whole market. You act on your own risk.
STOP: leaving trend channel to the bottom