Elliott Wave Technical Analysis: NEO Crypto Price Today
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NEO/U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Direction Next higher Degrees: Wave Y
Wave Cancel invalid Level:
NEO/ U.S. dollar(NEOUSD)Trading Strategy:
It is in a corrective wave structure nearing its end. If it can break through the bullish level at $15.414, it will confirm that a new uptrend has started. However, if it breaks the support level at $8.688, beware of a deeper correction. Traders should closely monitor key market signals before making any investment decisions.
Trading strategies
* Buy Strategy (Long Position):
* Wait for a break of resistance at $15.414 before entering a long position to confirm the uptrend. The main target is wave (III) which has the potential to generate high returns.
* Risk Management:
* If the price breaks the support level of $8.688, it indicates that the correction is not over yet and the price is likely to continue to fall.
NEO/U.S. dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Direction Next higher Degrees: Wave Y
Wave Cancel invalid Level:
NEO/ U.S. dollar(NEOUSD)Trading Strategy:
It is in a corrective wave structure nearing its end. If it can break through the bullish level at $15.414, it will confirm that a new uptrend has started. However, if it breaks the support level at $8.688, beware of a deeper correction. Traders should closely monitor key market signals before making any investment decisions.
Trading strategies
* Buy Strategy (Long Position):
* Wait for a break of resistance at $15.414 before entering a long position to confirm the uptrend. The main target is wave (III) which has the potential to generate high returns.
* Risk Management:
* If the price breaks the support level of $8.688, it indicates that the correction is not over yet and the price is likely to continue to fall.
Technical Analyst: Kittiampon Somboonsod
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