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NEO/USDT (Futures) Potential Upward Movement

NEO/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 48.505, 49.914, 50.000.

Key Support Levels: 44.236, 41.400, 36.616.

Daily Chart:

The price on the higher time frame found support around the 44.000 USDT mark where huge wicks are left to the downside. Higher lows has been seen as well where a potential reversal and a move to the upside might begin signaling the end of a pullback.

NEO/USDT (Futures) Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the coin succeeded to break the descending channel formation to the upside after posting a double bottom near the support level. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 44.518

TP 1 @ 48.342

TP 2 @ 49.914

Stop Loss @ 42.632

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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