Matrix failed: NEO is the worst investment of August among the top 25 altcoins
Source:
During August the fourteenth in terms of capitalization, the cryptocurrency had lost approximately 39 percent of its value against the dollar. According to the data, the worst investment in the last month of the top 25 coins on Coinmarketcap.
thewhich altcoins to invest in
Local minimum cryptocurrency set at 14.5 per dollar two weeks ago. After fourteen days the NEO a little older, but still in the column the biggest losers.
Price NEO behaves in accordance with the bearish trend of Bitcoin over the past six months, the cryptocurrency has set a new record. In August, the oversold condition of the asset resulted in a rebound above $ 20.
The General picture of the price movement NEO is clearly visible on the monthly chart. While the cryptocurrency rebounded from support at 14$, but that's not a sign to the beginning of a bullish trend. A break above $ 30, which are the main resistance at the moment, will give hope for a new wave of growth.
However, the likelihood of such a scenario is not very big. 5-month moving average line indicates that the control remains in the hands of the bears.
Now there are two possible scenarios:
theThe September candle closes above 34 dollars, after which the cryptocurrency rises in price to $ 50
The bulls can't return to the game and NEO falls below. In this case, the immediate support will lie at the level of $ 7
.
By the way, in the potential of cryptocurrencies'm sure even China. Recently NEO in fifth place of the ranking of the most promising coins, compiled by local experts.
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