NEO NEO/USD completes the trading week near the 16.15 area. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in NEO. The current trading week is expected to test the lower limit of the Ichimoku Kinko Hyo Cloud near 16.70, from where we can expect an attempt to rebound and continue the development of a bearish trend with a target below the level of 8.00.
NEO weekly forecast October 29 — November 2, 2018
An additional signal in favor of the cryptocurrency fall is the test of the upper limit of the downward channel, as well as the test of the resistance level. Previously, a strong signal was received for SELL the NEO cryptocurrency, due to the crossing of signal lines at 19.00.
Cancellation of the fall in options option NEO/USD will break the upper boundary of the indicator cloud and close above 21.00, indicating a change in the downward trend in favor of an upward trend. Expect to accelerate the fall of quotations is with the breakdown of the lower model «Triangle» and closing below the level of 12.50.
NEO weekly forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to the level of 16.70, where a rebound can be expected and the cryptocurrency will continue to fall with a potential target near the level of 8.00, the resistance level test will decline, 21.00, in this case, we should expect continued growth of NEO.
