NEO coin U.S.dollar(NEOUSD) Elliott Wave Technical Analysis 20 January 23

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Elliott Wave Analysis TradingLounge Daily Chart, 20 January 23,  

NEO coin U.S.dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: Sub-wave of Wave C

Details: Wave ((5)) tends to end Prices are rising again.

Wave Cancel invalid Level: 5.96

NEO coin U.S.dollar(NEOUSD) Trading Strategy: NEO has recovered well from the 5.96 level, but even so, the price is still below the MA200, which may still be under pressure from selling pressure. And there is a reversal chance in wave 2 and an opportunity to join the trend again once wave 2 completes.

NEO coin U.S.dollar(NEOUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish.

TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 20 January 23,  

NEO coin U.S.dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: Wave 1 of Motive

Details: Wave 5 is always .618 x wave 1 through wave 3

Wave Cancel invalid Level: 5.96

NEO coin U.S.dollar(NEOUSD)Trading Strategy: Neo Coin is still in the structure of Impulse Wave uptrend, lacking another rise in wave 5, at the end of which the price will reverse again in wave (2) larger Degree

NEO coin U.S.dollar(NEOUSD)Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators have hidden bullish divergence the price trend reversal.