NEO Analysis 5/03 NEO-USD

NEO / USD has had an impressive rally from the former "dump-spike" on 29.11.2017 until mid-January 2018. The price multiplied from the low of $ 3.74 to the ATH at $ 198.20 by several thousand percent. It is only logical that such brutal increases in the shortest time be massively corrected.

So NEO's price was able to stabilize pretty well on the 78.6% Fibonacci retracement and find a bottom. What I do not like, you can see in the second picture:

The price climbed slowly without much increase in volume and with many minor interim corrections. A course explosion looks different! Which is why I also strongly assume that there will be setbacks. They could easily push the price back into the $ 69.51 - $ 63.00 range. For further boosts, a fall below the $ 55.00 level would not be good. Too strong would then be the urge to test new lows in the overarching downtrend.

Cheers Jessy