NEO (formerly Antshares) has been on a roller coaster ride over the past month. It has been all the way up to about $60 and all the way down near $28. I have been searching through a bunch of Facebook groups and forums and I have noticed that a lot of people are freaking out. They do not know what they should do with their holdings.
The video above does a great job of explaining what I believe is going to happen over the next few weeks. The short term 15-minute chart shows that there is a support and a resistance between $35 and $28. In the overall 4-hour chart, it looks like the historic support sits at around $27. With that in mind, the chart has been in a bearish trend over the past month. As you noticed in the video, the high level trend line and the low level trendline are converging in the shape of a triangle.
The triangle shape most likely means that a breakout is going to occur. It does not say which way the breakout will occur but the likelihood is fairly high. After doing this analysis, I came to the conclusion that I am personally going to set a sell order at around $26-$27 per coin. I think that is a safe way to protect myself against further losses. With that in mind, I personally think that the coin is going to bounce back into the range of $32-$35. I think that the support line that we are at has shown enough support to hold it from breaking through.
