Elliott Wave Technical Overview: NEO Crypto Price News For Tuesday, April 22
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Elliott Wave Analysis – TradingLounge Daily Chart
NEO/USD (NEOUSD)
NEOUSD Elliott Wave Technical Overview
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Next Major Direction: Wave Y
Wave Invalidation Level: Not defined
NEO/USD Trading Strategy - Daily Chart
NEO has been trending downward, aligning with the Elliott Wave model since early 2025. The fifth wave (V) appears to have finalized its sub-wave sequence, indicating the market may be near a significant shift. A confirmed breakout above the resistance at 6.60 could trigger the start of a strong Wave III.
Trading Strategy Overview
✅ Swing Trade Opportunity (Short-Term Traders)
If the price successfully breaks the bullish threshold of 6.60, a possible entry into Wave III—often the sharpest and most dynamic wave—could emerge.
⚠️ Risk Management Tip
Should the price drop below the wave cancellation point (W.C. Invalid), the bullish setup becomes void. Reassessment of the wave structure is required at that point.
Elliott Wave Analysis – TradingLounge H4 Chart
NEO/USD (NEOUSD)
NEOUSD Elliott Wave Technical Overview
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Next Major Direction: Wave Y
Wave Invalidation Level: Not defined
NEO/USD Trading Strategy - H4 Chart
Following a consistent downtrend in line with Elliott Wave principles, NEO now shows signs that its five-part Wave V may be complete. The market approaches a decision point. A push above the 6.60 resistance level could mark the beginning of Wave III, potentially offering high momentum.
Trading Strategy Overview
✅ Swing Trade Opportunity (Short-Term Traders)
A break through 6.60 provides an opportunity to catch the acceleration phase of Wave III.
⚠️ Risk Management Tip
A dip below the wave cancelation level ends the current bullish setup. Traders must reassess before further action.
Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com
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