NEO 12H. Lack of light in the eyes and the level $13.25

24 oct 2020

For more than a month now, the correction of the insane NEO growth has been going on. Uncertain buyers' breakthrough of the mark $21.56 was a catalyst for the downward wave beginning. Sellers return to the $21.56 mark motivated us to come up with an idea that worked out perfectly.
Since the idea was published, the price has fallen by 20%.

At the moment, the NEO price is moving in a local inclined channel, which looks more like a corrective movement than the emergence of a new upward trend.
Our opinion is reinforced by the trading volumes, which have decreased compared to August 2020.

Near NEO future will decide the level 18.911.
If the price can fix above $18.91, then the way will open to $20.25-21.56, as we noted in the previous idea.

If the price fails to fix above $18.91, it will be a strong signal of buyers' weakness. In this case, the price will first go down the channel to the level $17, with a possible continuation of the fall to $13.25.

P.S. So far, BTC hasn't strongly motivated NEO buyers to skyrocket growth.
Our optimistic BTC target is $13,870. We are not sure if this potential continued BTC growth will trigger a significant change in the NEO market.
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