NEO: Nice, smooth move up

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  • NEO moves up in a parallel channel on the short term chart.
  • Coupled with a breakout on the long term.

NEO, the crypto that had given up more than 95 percent of its value from the all time high of $198, is rising in a nice ascending trendline parallel channel on the medium term chart after giving a breakout on the long term chart – recipe for more rallies ahead.

NEO/USD is up 0.2 percent at $8.92, trading in the middle point of the day’s range of less than 5 percent. On the 240-minute chart of this fallen coin, it is rising in a higher high, higher low channel which is a positive sign for bulls.

This pattern occured after the coin gave a breakout on the daily chart, earlier this month where it broke out of a descending trendline formed from September highs.

NEO/USD 240-minute chart:

NEO/USD daily chart:

 

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