As I was scanning through the Crypto market looking for solid coins when there is sentiment of "Risk Off", which I feel we have now, as many can witness looking at their dwindling Alt coin portfolios, I asked myself: Which coin is cheaper than Ether with a high market cap and has done well during this current Alt coin dip?
Neo stood out if we look at 2018. As market is moving now, in a sideways fashion, with the market cap established itself above the 650 Bln dollar mark, it is slightly stronger than Ethereum, and compared to the Greenback, it is on a bullrun, just like Ether.
My analysis of the pair NEO/ETH using the daily timeframe concluded that there are some signs that Neo could continue to appreciate against Ethereum, even though sideways action is the most likely outcome. From a probability standpoint, it could be an idea to fork some Ether into Neo and some of the struggling riskier parts of the Alt portfolio. Bitcoin has failed to advance and is struggling to stay afloat and avoid that dip towards the 9000 level. If it sells off, it could also affect the riskier coins.
One thing that I have noticed during the increase in market cap the last days is that it hasn't benefited the Alt coins in general. There has been a flow both from fiat and Alts into Ether and a few other stronger currencies. This could ofcourse be a positioning before a new pump, "Risk On" move, but it could also be a way to secure value if we see another panic sell off. With alot of coins severly in the red, it is handy to have some crypto at hand to buy the wholesale.
Here is the technical analysis of NEO/ETH:
https://www.tradingview.com/chart/NEOETH/vksRXRNM-1-Crypto-Daily-NEO-ETH-The-Strongest-Jan-14-2018/
