NEO price action is setting up a descending triangle pattern and looks poised to break out. With strong support at 30$ and a generally very bullish and passionate community for NEO, we may see a breakout and higher trading. However with recent news of Chinese ICO crackdowns including the blocking of Red Pulse, which is the first project to use the NEO blockchain, prices could break lower back into the 20$ range. NEO has exploded in popularity following the re-branding from AntShares in late July 2017 when the coin was trading around 7$. NEO reached a recent all-time high above 55$ on August 13th but has since traded back to test 30$ numerous times.
Are you a buyer or selling of NEO at these prices given the potential regulations coming in China?
