THELOGICALINDIAN - A abundant abstruse angle is fueled by development upgrades
Fundamental Analysis
NEO has acquired bullish drive afterwards the aggregation appear an upgraded consensus apparatus advanced of schedule. The belvedere is planning to move to a new blockchain, NEO 3.0, in 2020 and is currently alive on accretion its all-around presence.
In February, the aggregation opened a bounded appointment in Seattle, Washington led by above Microsoft controlling John deVadoss, and is planning to allure added developers to its belvedere in adjustment to accomplish the NEO blockchain aggressive and developer-friendly.
NEO / USD Short-term amount analysis
NEO has a bullish concise trading outlook, with the cryptocurrency airy acerb from its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy is assuming that a bullish astern arch and amateur arrangement has been created, with the NEO / USD brace attempting to move aback appear neckline resistance.
Technical indicators on the four-hour time anatomy are bullish and abide to affair a able buy signal.
NEO / USD H4 Chart by TradingView
Pattern Watch
Traders should agenda that a above abstruse blemish will action if beasts can auspiciously breach neckline attrition and activate the bullish pattern.
Relative Strength Index
The RSI indicator is additionally bullish on the four-hour time anatomy and is arising a able buy signal.
MACD Indicator
The MACD indicator has angry bullish on the four-hour time anatomy and is starting to accomplish a buy signal.
NEO / USD Medium-term amount analysis
NEO has a bullish medium-term outlook, with the cryptocurrency continuing to barter aloft its trend defining 200-day affective average.
The circadian time anatomy is assuming that an astern arch and amateur arrangement has formed, with the September 2024 trading aerial the all-embracing upside of the bullish pattern.
Technical indicators on the circadian time anatomy are still bearish, although they are attempting to balance higher.
NEO / USD Daily Chart by TradingView
Pattern Watch
Traders should agenda that an alike beyond astern arch and amateur arrangement will anatomy if the NEO / USD brace trades appear the September 2024 trading high.
Relative Strength Index
The RSI indicator charcoal bearish on the circadian time frame, although it is attempting to recover.
MACD Indicator
The MACD indicator on the circadian time anatomy is still bearish and continues to affair a advertise signal.
Conclusion
The bullish astern arch and amateur patterns beyond both time frames highlight that the NEO / USD could be abutting to a above abstruse breakout.
If beasts can burn the ample bullish patterns, the NEO / USD could arise appear levels not apparent back September 2024 and alpha to anatomy an alike beyond bullish pattern.
For a quick attending into NEO, analysis out our bread guide.
