NEO/USD. R Trader

[RoboForex Administrator]

NEO/USD

NEO (formerly known as Antshares) is a smart economy platform and the first Chinese blockchain project. The project was founded in 2014 and was real time open source on GitHub in June 2015. NEO coin and the platform aims to develop a "smart economy" with a distributed network by utilizing blockchain technology and digital identity to digitize assets, and automating the management of digital assets using smart contracts. NEO coin is currently traded on Bittrex, Cryptopia and Binance among other exchanges.

This instrument is available for trading on the platform R trader. You can start trading with as few as 10 USD on your trading account.

[fxmaster]

NEO during last Thursday's trading, penetrated the $8.91 resistance zone and continued to rise to $9.70 areas as a result of the bulls pressure. During trades began to plummet from the $9.70 peak due to the weakness that appeared on the technical indicators.


NEO is traded in an upward direction in the secondary configuration. This trend suffers from a weakness due to the current correction, which has reached the 0.382 Fibonacci areas and is still going on.


It is expected that in case of broken level $8.76 may target the 8.25 $ area. On the other side in the case of the $9.70 level may target $10.39 levels.


Support: 8.91-6.86-5.78.
Resistance: 10.81 – 13.89-15.00.


Direction: Upward

[fxmaster]

NEO During this week's trading failed to break the first support area in the $8.917 areas as a result of the weakening of the vendor's strength thus bounced from $8.56 levels towards $9.32 areas.


NEO we looked at is neutral at the moment as a result of trading in a specific range between $8.681 areas and up to $9.340 areas on the 4H chart interval since last Thursday's trades.


It is expected that if the $8.68 level is broken you may target the 8.17 $ area. While in case of penetration level $9.340 may target $10.38 levels.


Support: 8.91 – 6.86 – 5.78.
Resistance: 10.80 – 13.89-15.00.


Direction: Neutral

[fxmaster]

NEO landed during last week's trades from $12.20 levels where it failed to penetrate $12.54 areas as a result of vendor pressure and continued towards $10.50 areas.


NEO during last week's trades, our neutral view broke down the $11.60 areas on the 4H chart, with a low downward trend and a failure to break 10.80 $ areas. I started trading in a specific range between $11.50 levels and up to $10.50 areas so our neutral view returned again.


It is expected that if the $10.5 level is broken you may target the 9.73 $ area. While in the $11.50 level, you may target $12.83 levels.


Support: 10.80 – 8.91-6.86.
Resistance: 13.89-16.15-17.64.


Direction: Neutral.

[fxmaster]

NEO broke during the current mid-week trades $10.50 as a result of the bear pressure on it following the failure of the $10.80 zone penetration and then broke the $10.29 areas.The currency continued to land until the $9.35 areas where it bounced off yesterday morning, re-testing the $10.29 resistance zone and failed to penetrate it thus returned about $9.25.

NEO of our neutral view during the trades last Tuesday by breaking the areas of $10.50 and re-traded through the downward trend. Currently, we do not recommend selling the currency until you break the $9.35 levels to avoid attachment in a losing trading center.

It is expected that in case of broken level $9.35 may target the 8.91 $ area. On the other side in the case of the $10.31 level may target $11.23 levels.

Support: 8.91-6.86 – 5.50.
Resistance: 10.29-10.80-12.07.

Direction: Bearish

[fxmaster]

NEO during last week's trades bounced from the $9.28 areas and continued to rise to $10.16 areas as buyers ' resolve increased. With the contact of these levels the currency landed towards the 8.824 areas and failed to break the $8.91 support area.

NEO traded in a downward trend in formation this trend suffers from weakness due to its inability to break the bottom of 8.82 $. Some of the indicators also indicate a weak downward trend, while the other is transformed into a neutral zone.


It is expected that if the $8.82 level is broken, the area may target $6.86. While, in case of penetration level $9.55 may target $10.80 levels.


Support: 8.91-6.86 – 5.50.
Resistance: 10.29-10.80-12.07.


Direction: Bearish

[fxmaster]

NEO during trading last Saturday penetrated the downward trend line as a result of increasing demand and during the trading of Sunday re-testing these areas and succeeded in stabilizing their declarations.During the current week's trades, several resistance areas such as $10.29 and $12.07 were penetrated and continued to rise to areas of $13.81.

NEO is trading in a bullish direction that supports this trend to penetrate the downward trend line during last Saturday's trading. It is noteworthy that, currently, technical indicators support the upward trend and we do not recommend buying at this time until the first resistance areas are breached.

It is expected that in case of broken level $12.07 may target area $10.80.On the other side in case of penetration level $13.89 may target $16.15 levels.


Support: 12.07-10.29 – 10.29.
Resistance: 13.89-16.15-17.50.


Direction: Upward