NEO NEO/USD is trading at the level of 54.70. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in NEO. The test area of Ichimoku Kinko Hyo signal lines is expected near the level of 52.00, from which it is expected to rebound and try to continue growth with the target near the level of 60.00.
NEO forecast & analysis NEO/USD April 12, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area. Earlier, we received a weak signal for buy of NEO cryptocurrency, due to the crossing of signal lines at 46.00.
The cancellation of the variant of the growth of quotations NEO will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 47.00 area, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations NEO/USD stands with the breakdown of the resistance area and the closing above the level of 63.00.
However, we should not exclude the attempt to form a bearish model of the «Wolfe Wave». In this case, after the level 60 test, we expect a rebound and a drop in quotations with a potential target at 45.00. Canceling the formation of the model will break through the area of 62.50, indicating that continued growth.
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