NEO/USDT Big Pump and testing 1st resistance at 45$NEO just pumped and tests the first of three big resistance lines around 45$.
Daily on the left hand side:
- The RSI moved over 70 and is now near overbought area. We expect some kind of consolidation before we move upwards again.
- The downwards trend seems broken after hovering above the lower yellow line.
- We see a volume increase during the last days.
4h on the right hand side:
- There is a golden cross involving the 50 and 200MA indicated by the yellow camera.
- We spot a strong volume spike indicated by the green spiky ball.
We expect some consolidation now which also could be very short term.
In the long term we shoot for 120$ again.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
