NEO Analysis – Friday starts with the 7% upswing

One of the strongest cryptos on the market and definitely the strongest one among the major instruments today is NEO. We are up almost 7% and the day has just started. NEO was mentioned here previously on the 8th of August, when the price was around the 23 USD. We were very bearish about the future of this crypto:

„Gates to hell opened yesterday, when NEO tested that area as a closest resistance. Now, the price is in a freefall and is getting closer to the lows from the end of the last year. Chances that we will get there are quite high „

The price was going down till the 14th of August, when we reached…14 USD. That was a nice call – almost 40% drop just in few days! After that, the bullish sentiment came back on the market. NEO created a flag pattern (red) and later, broke the major down trendline. What is more, we defended the horizontal support marked with an orange colour. All that can be perceived as a positive sign. NEO has high chances for a bigger bullish movement in the next few days.