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EOS Price Watch: Bulls Defending Long-Term Area of Interest

EOS Price Key Highlights

  • EOS is correcting from its recent rally but appears to be finding support at current levels.
  • This 50% retracement level is within an area of interest where plenty of buy orders are likely located.
  • A bounce off this level could take EOS back to the swing high and beyond.

EOS looks ready to resume its climb as it is encountering some bullish pressure at the current area of interest.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This suggests that the rally is still likely to resume at this point. EOS price is also nearing the 100 SMA dynamic support near the 61.8% retracement level.

The moving averages avoided a downward crossover on the latest convergence, signaling that buyers are putting up a fight. In that case, EOS could be ready to retest the swing high at 23.00 or create new highs.

RSI is heading lower to show that sellers still have some energy to take price down, but the oscillator is approaching oversold levels to reflect exhaustion. Stochastic is also on the move down but is starting to pull up without even hitting oversold territory.

EOS/USD Daily Chart from TradingView

Market Factors

Just last week, the the Chief Financial Officer of Commonwealth Bank of Australia Rob Jesudason reportedly signed on with the firm of the founders of the world’s fifth largest cryptocurrency in the market today, This is the private firm which has developed both the EOS token and the blockchain technology behind it.

According to Brendan Blumer, CEO of

“Rob Jesudason had ideal skills for the tech-related role in the firm. He has a proven track record of success in global financial services, he also has been involved in the innovation and facilitated regulatory advancement enabling the adoption of new technology in the industry.”

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Commonwealth Bank CFO Leaves Financial Sector in Favor of EOS

The financial is slowly becoming a career stepping stone rather than a final destination. A lot of people working in this industry eventually move on to completely different things.T his has become especially apparent when it comes to the cryptocurrency industry. The CFO of Commonwealth Bank is now the COO and Group President of the EOS project.

Commonwealth CFO Jumps Ship

A very peculiar trend is forming in the financial sector. Various Wall Street experts are flocking to cryptocurrency as of late. This booming industry offers a lot of new opportunities waiting to be explored. It now seems this trend is taking place in other parts of the world as well. In Australia, Commonwealth Bank CFO Rob Jesudason is leaving the firm in favor of EOS.

Jesudason’s main tasks at Commonwealth Bank include auditing, treasury, and investor relations, among other things. His addition to the EOS team as Chief Operating Officer will create a lot of waves in the industry. He is joining EOS as a member of the Board of Directors. Additionally, he will become the project’s Chief Operating Officer and Group President. CEO Brendan Blumer explains Jesudason’s role as follows:

“Rob has a proven track record of success in global financial services, where he has been involved in industry innovation and facilitated regulatory advancement enabling the adoption of new technologies. His alignment with our organizational priorities of creating compliant, high-performance blockchain solutions, is an ideal fit for, and is an exciting conclusion to our thorough search for the right individual.”

The Allure of Blockchain Technology

EOS is a project focusing on developing scalable blockchain software. Their high-performance project will enable secure data transfer and decentralized application support. It is considered to be the first performant blockchain platform for developers. At the time of writing, the project is valued at just over $12bn.

Blockchain technology can affect many different aspects of people’s daily lives. With a strong focus on low-cost, fast, and scalable solutions, EOS has a competitive advantage over some other solutions on the market. Parent company acknowledges the project is one of the fastest growing ventures in this particular industry.

Following his notice period, Jesudason will join EOS in an official capacity. This hire further confirms the cryptocurrency and blockchain industry is attracting a lot of positive attention.  With more established talented individuals joining this new industry, it gains a lot more legitimacy in the process. For EOS, this may effectively propel the project to a whole new level in the months and years to come.

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EOS Price Technical Analysis for 05/11/2018 – Stay on the Lookout for a Breakout

EOS Price Key Highlights

  • EOS has formed lower highs and higher lows to create a symmetrical triangle on its 1-hour chart.
  • Price is currently testing support and might be due for a bounce back to the top.
  • Technical indicators are signaling bearish exhaustion but the tighter consolidation suggests a potential breakout soon.

EOS is consolidating inside a symmetrical triangle on the short-term chart, but a breakout could happen as it approaches the peak.

Technical Indicators Signals

The moving averages are oscillating but the 100 SMA looks prime for a downward crossover to signal that the path of least resistance is to the downside. This could mean that a breakdown is more likely to occur than a bounce.

Note that the triangle pattern spans 16.5 to 19.5 so the resulting breakout could last by the same height. Similarly, a break past the top at 18.5 could lead to a rally of the same size.

RSI is heading lower to show that sellers are in control, but the oscillator also seems to be bottoming out. Turning higher could draw bulls back in and lead to a bounce to the triangle resistance. Similarly, stochastic is turning higher and showing a bit of bullish divergence to signal a return in buying momentum.

EOSUSD 1-Hour Chart from TradingView

Market Factors

Cryptocurrencies appear to have shrugged off the dollar decline, signaling that these are moving in tandem with risk-taking. So far, geopolitical risk has dampened demand for higher-yielding assets after Trump announced his decision to take the US out of the Iran deal. Worsening tensions in the region could keep investors on edge.

EOS is prepping for the launch of Dawn 4.0, first on testing mode then for the mainnet on June 1. Also, the Livecoin exchange plans a delisting in order to avoid the complexities of handling the new token, which explains the current consolidation. The official site announced:

“Within 23 hours after the end of the final period on June 1, 2018, at 22:59:59 UTC, all EOS Tokens will become fixed (ie. frozen) and will become non-transferrable on the Ethereum blockchain.”

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Asian Cryptocurrency Trading Roundup May 2: EOS Passes Ethereum in Trade Volume

FOMO Moments

The crypto selloff that started this week has abated and markets are relatively stable, and even up marginally, this morning in Asia. Total market capitalization is over $420 billion at the moment which is a little higher than yesterday’s level. Bitcoin has hovered around $9,000 over the past 24 hours and has gained just under 1%. Altcoins are nearly all in the green with of course one or two performing much better than the others. Today’s altcoin of the morning is EOS, and Verge is not far behind.

We seem to be featuring the same cryptocurrencies time and time again on ‘fomo moments’ which is testament to their resilience and performance when the digital chips are down. Coinmarketcap is reporting a 12% climb for EOS which is trading at just under $19 at the moment. It took a hit yesterday and fell back to $16.75 but has recovered well. On the week EOS has gained 37% from $13.8 this time last Wednesday and reached a new all-time high of $22.79 on April 29. The monthly picture shows this altcoin being one of the top performers with a 215% increase from around $6 this time last month. Against Bitcoin EOS is up 11% on the day to 209000 satoshis from 187000 sats this time yesterday.

EOS has currently surpassed Ethereum in terms of trade volume with $3 billion traded in the past 24 hours. ETH has only managed $2.4 billion in the same period. It is the hot crypto at the moment and momentum continues to build. No new announcements have driven price action so it seems that investors are looking to get into the next big thing in crypto.

Most of that $3 billion in trade volume has been handled in Southeast Asia this morning. All major exchanges such as OKEx, Bithumb, Upbit, and Huobi have shared trade with almost 70% between them. Pulling away from Cardano in 6th place, EOS now has a market cap of $15.6 billion and is chasing down BCH in fourth place.

Total crypto market capitalization has climbed marginally on the day by 4% to $423 billion, however total trade volume has dropped 25% to $23 billion over the 24 hour period. The only other altcoins in the top 25 with double digit gains during Asian trade are Verge on 12% and Aeternity on 10%. Cardano, Stellar and Lisk have also had a good morning with around 9% gains.

More on EOS can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

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EOS is Valued Higher Than SpaceX Despite Not Launching Mainnet

A lot of people keep an eye on the EOS value as of right now. For a project without a working mainnet, its valuation is astronomical. So much even that the project is now valued higher than SpaceX was back in 2017. Speculation is a very real trend in cryptocurrency, but the real value of EOS is a lot different from its current market cap.

Hype and Speculation Push the EOS Price

As is the case with most other cryptocurrencies, hype and speculation play an integral role. This is especially true where most of the so-called altcoins are concerned. Bitcoin is still the top cryptocurrency because it works as people would expect. It’s not the perfect solution either, but it has been around for over nine years. Despite its appeal, things have not been easy-going for Bitcoin.

Prior to February of 2017, Bitcoin did not have a market cap of $17bn. That is surprising, yet it shows it took the world’s leading cryptocurrency years of hard work. EOS, on the other hand, has reached that valuation in under a year. A feat of strength, but also an unrealistic one given its lack of a working live product. That doesn’t mean EOS is worthless by any means. However, it does not come close to holding a candle to Bitcoin, Ethereum, Litecoin, or even XRP in terms of maturity.

The biggest development for this project to date is the launch of its testnet. A major milestone for the team, but it’s still a test environment first and foremost. There is no live network outside of a controlled environment for EOS as of right now. Nor will there be one until the EOS testnet has been put through its paces. Barring any groundbreaking bugs being discovered, the live net will become a real thing in the near-ish future.

What is the Real value of EOS?

Similar to most other cryptocurrencies, EOS is worth what people are willing to pay for it. This is a free and open market decided by market makers and market takers. If users are willing to pay $18 or more for a token associated with a non-working product in the real world, that is their prerogative. It doesn’t mean them right or wrong, but it is only normal others start questioning the speculation associated with this project.

No one will deny this project has some interesting selling points. It will seemingly provide better scalability and focus on consumer usability. There’s also the DPoS algorithm which is of great interest. So far, these are all still empty promises, as no one can use this technology in the real world other than through a testnet. There are no “live” applications or use cases for EOS as of right now.

Most investors also tend to overlook the centralized nature of EOS. It’s not as bad as most tech companies, but there are just 21 simultaneous block producers. That is a very worrisome development, albeit possibly a necessary evil. More competition in terms of blockchain and smart contracts is a good thing. However, until EOS goes live, it is still mainly built on hype and expectations. So far, its current market cap seems to reflect that rather perfectly.

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Asian Altcoin Trading Roundup: Top Cryptocurrency is EOS

FOMO Moments

Crypto markets have remained relatively stable as we enter the weekend and there have been no major movements in either direction. Total market capitalization has remained over $400 billion which is a good signal that more selling pressure has been suppressed for now. Bitcoin has remained over $9,000 for the past 24 hours and is currently trading one percent down at $9,130. Altcoins are a mixed bunch with a few posting good gains while some have lost a little ground. One steaming ahead of the group this morning in Asia is EOS.

Coinmarketcap reports that EOS is currently trading 16% higher during the morning’s Asian trading session. At the moment this altcoin is trading at $17.60 which is up from around $15 this time yesterday. Over the week EOS has been even stronger with gains of almost 50% from $11.20 this time last Saturday. The monthly view is more impressive with gains of over 170% from a trading range of around $6 this time last month. Against Bitcoin EOS is up 17% on the day to 193300 satoshis from 164000 sats this time yesterday. Over the week EOS has gained 54% against BTC, up from 125000 satoshis this time last weekend.

According to Forbes current momentum for EOS has been driven by benefits from several tailwinds, including an ongoing ICO and widespread faith in Dan Larimer, who currently serves as CTO of BlockOne and is leading the development of EOS. Positive sentiment is driving prices higher as investors look beyond Ethereum for the next big crypto platform.

The majority of trade has been on Asian exchanges this morning with OKEx, Bithumb and Huobi taking over 50% of the volume. EOS volume has risen over 115% from around $1.3 billion yesterday to over $2.8 billion today. Total market cap is steadily increasing cementing its position as fifth most popular cryptocurrency with $14.5 billion at the time of writing.

Total crypto markets have remained pretty flat on the day rising just under one percent to $415 billion. Other altcoins performing well during the Asian trading session this morning include Tron, Icon and Steem.

More on EOS can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

The post Asian Altcoin Trading Roundup: Top Cryptocurrency is EOS appeared first on NewsBTC.

NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 26, 2018

Other than EOS and Tron which are still oscillating in the green territory, most coins are correcting and for good reasons. Leading the correction pack is IOTA which is down 14 percent and NEO which follows closely at 12 percent. It’s my expectation that sellers shall confirm the double bar bear reversal patterns that is clear in the daily chart as they move lower and probably rest and reverse at our support lines. Because of this, I’m net bearish but with a bullish skew.

Let’s have a look at these charts:

XLM/USD (Stellar Lumens)

When it pops it does pop and Stellar is no exception. After periods of consolidation and liquidation in the 4HR chart, sellers found their way. In the daily chart we now have this nice double bar bear reversal pattern complete with a stochastics sell signal forming in the midst of an uptrend. In my view, this short term correction is a blessing in disguise for those who want to add their longs and for those who missed the original rally up.

As before, the entry chart is the 4HR chart and here, price action is in sync with the daily chart. I expect buyers to find support anywhere between 25 cents and 30 cents. If a stochastic buy signal prints at this zone, buyers should initiate longs and aim for 50 cents and 70 cents as per our previous Stellar Lumens price forecast.


In the last 24 hours, IOTA prices have been on the receiving end of bears. It’s down 14 percent for the day and has fallen gracefully from its peak at $2 where it had perched. Like most coins, this is just but a normal correction and buyers can now ramp up at a discount.

In my view, sellers can continue loading up shorts in lower time frames now that there is a stochastic sell signal in our entry chart and most importantly in the daily chart where a double bar bear reversal pattern is visible. Going forward, potential support lies anywhere between $1.5 and $1.7. At this zone, hints of buy pressure or a stochastic buy signal should provide possible of higher highs and possible IOTA propulsion towards $3.


Whether EOS will smash January 2018 highs today or in June doesn’t matter. What we do know is that price appreciation in the run up of EOSIO launch which is less than 40 days away is inevitable. After all, EOS has been doing a pretty good job when it comes to marketing their product, so demand is something that shouldn’t be a problem. After a 110 percent surge in the last 30 days and a 50 percent spike on April 24, yesterday’s price action is what we were anticipating. Our EOS trade plan is simple.

From our technical set up, any depreciation towards $12 is positive since buyers can own EOS at a discount. Then again, we have a stochastic sell signal in the 4HR chart complete with an over-extension following that 50 percent flash gain on April 24.

I remain neutral but I’m leaning towards bulls. Ideally if prices drop towards the upper end of our support at $11.5 or anywhere in between that level and $9.5 on the lower end then I shall be watching out for reversal signs. If not and prices surge past $17, then we can project EOS at $25 in the coming weeks. After all, buying and syncing with the weekly trend is a sure way of registering a profit.

LTC/USD (Litecoin)

Besides the 10 percent drop in Litecoin prices in the last 24 hours, it’s now official that Wirex is adding Litecoin to their wallet. Going forward, all verified users can trade or transact using Litecoin as a settlement. This is actually good news if we are banking Litecoin retail demand to drive prices up.

Technically, sellers are in the driving seat and capitalizing that bearish divergence pattern that has been panning out for the better part of last week. I will reiterate and say that there is a Litecoin undervaluation with the coin trading within a break out pattern.

In my view, we expect first support at $140 and if sellers slice through this level effortlessly then we expect support anywhere between $125 and $140. This $15 zone is our ideal level of buying whenever a stochastic buy signal prints in the 4HR chart.


Of all the coins in the top 10, NEO is resilient and it has been even during the necrotic bear market in Q1 2018. Now, NEO, through its investment arm the NEO Global Capital shall inject $1 Million into Moonlight. Moonlight is a project that will launch on NEO and plans to change how recruitment of human resource is done.

From the chart, NEO is correcting just like its peers. It’s up four percent for the week and down 12 percent in the last 24 hours. Ideally, buyers might find support at $60 or there about before rebounding and probably rallying towards $90. As it is, we have a stochastic sell signal in place and until when there is a shift of momentum, buyers should stay neutral.

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Huobi Announces Plans to Become EOS Block Producer

Chinese crypto exchange Huobi Pro announced plans yesterday to become a block producer on the EOS blockchain. Currently the world’s fourth largest crypto exchange with $2.3 billion in daily volume, Singapore headquartered Huobi becomes the latest to embrace the EOS ecosystem.

Supernode Candidacy for Huobi Pro

In a live stream event dubbed the ‘EOS Supernode Party’, and on Twitter the team revealed their application for candidacy to become the next EOS supernode.

EOS is similar to Ethereum in that it provides an ecosystem for dApp development and deployment however, unlike Ethereum, it runs on a delegated proof of stake consensus model. This differs to traditional proof of work mining in that the hash power is defined by the number of tokens held or staked by each user or node.

The pros are that it prevents mining monopolies controlling the network but the downside is that it does lead to centralization. Delegated PoS differs slightly in that blocks are produced by elected supernodes which change every 21 blocks in a continual approval voting system. This maintains honesty across the network and prevents one entity controlling too much of it. Those that want to be considered for election must announce their intentions to become a supernode, and Huobi has done just that.

EOS will be migrating away from the Ethereum network on June 2, 2018. The 21 supernodes supporting the mainnet must be in place by then so applications have been coming in thick and fast. Huobi is the largest exchange so far to lodge an application but it has also been joined by others organizations including ViaBTC, and AntPool.

Other exchanges are also making moves to become EOS block producer candidates. Bitfinex who already has an EOS powered exchange, EOSfinex, also announced candidacy on April 23rd. EOS has been having a good run lately with positive developments boosting price. Trading giant eToro announced that it would be adding the token to its listings expanding the total number of cryptocurrencies it offers to ten.

Boosted by the news EOS has continued to grow and is currently trading at just over $15, up 18% on the day. The altcoin recently surpassed Litecoin in the top 25 by market cap and it is currently fifth with $12.3 billion. Over the past month EOS has skyrocketed almost 125% from around $6.7 this time last month.


Image from Shutterstock

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(Buy Litecoin and NEO) NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 25, 2018

It’s only 40 days away to EOSIO mainnet launch and EOS is literally exploding. With a huge bull candlestick and a 110 percent gain in the last month alone, buyers are deep in profit territory.

In my view, trading this coin is profitable as the pump before the well publicized launch will be inevitable but focusing on other coins as Litecoin and NEO would yield more profits.

From our altcoins technical analysis, there is gross undervaluation of the two especially Litecoin which is lagging and under-performing the general crypto market.

Let’s have a look at these charts:

XLM/USD (Stellar Lumens)

Stellar continues to chart its way up. In the last 24 hours alone, it’s up seven percent and there is more room for expansion if we take a top down approach. Week over week, Stellar remains a top performer as it is up 29 percent and from our technical analysis, all that was needed was a break below 35 cents.

That didn’t happen and instead prices are now testing our main trigger line at 40 cents as price action sync with the weekly trend. I recommend buys at every stochastics buy signal in lower time frames with targets at 50 cents and 70 cents on the upside.


With tech companies lining up and publicly embracing IOTA, we can as well say this IoT facilitator will be a tech industry disruptor in years to come. So, to avoid being obsolete in the world of distribution and decentralization, shaping in and re-calibrating is the best approach for longevity. As it is, I’m net long IOTA and this should be a long term investment.

In the daily chart, IOTA prices are gaining but here is the only caveat. Regardless of the positive sentiment around this coin, there is a lower low and buy momentum is sure fading. Since it’s not a good strategy to fade trending markets, I’m still neutral.

I’m waiting for a correction towards $1.80 according to our previous IOTA technical analysis and until there is a correction of that BB bearish divergence. Any dips mean we load with targets at $3 as usual.


In 40 days, EOSIO mainnet will be live. And yes, there is growing interest on this software/platform that promises to rival Ethereum. After BitFinex, Huobi is now tendering its interest on becoming an EOS block producer.

On the other hand, traders can buy or sell EOS in CoinOne. The later is interesting and supportive developments that should prop this coin in the long term.

Anyhow in the price chart, that rocket launch triggered our buys at $12 and as it is, waiting for a pullback before buying is OK. After all, the 29 percent spike in the last 24 hours is not normal and that’s why I expect price action to slow down today as buyers find opportunities to ramp up buys. Based on our EOS technical analysis, our immediate support should be at April 24 lows and the 32.8 percent Fibonacci retracement level at $12.

LTC/USD (Litecoin)

Charlie Lee is now part of DMG Blockchain advisory board. The company involves itself in the mining business and MaaS. They obviously need Charlie’s expertise as they seek to grow and later they shall add Litecoin as the demand for mining services peak.

As it is, Litecoin is up nine percent and the best chart that shows this expansion is the daily chart. Evidently, $140 was where buyers found support and the explosion past April 21 highs is clear. Litecoin buyers should hunt for under-valuation in lower time frames and aim for $180 and $250 in line with our previous Litecoin technical analysis.


With a monthly growth of 28 percent, I’m of the opinion that there is severe NEO under-valuation. Yes, NEO is up 10 percent in the last 24 hours but in my view, there is more room for upsides.

Because of this and the fact that prices are now towing with the trend, the best approach is to spread out buy entries in lower time frames. Ideal and immediate targets lie at $110 and $150 on the upside.




The post (Buy Litecoin and NEO) NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 25, 2018 appeared first on NewsBTC.

NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 24, 2018

In the last 24 hours, gains have been modest to say the least and still IOTA is the top performer after adding three percent. This way, its market cap stands at $5.86 billion. In my view, IOTA is a coin to watch. On the other side of the spectrum, Stellar Lumens led the erosion as it is down three percent with EOS following close behind.

Let’s have a look at these charts:

XLM/USD (Stellar Lumens)

Other than Ripple, Stellar Lumens is amongst the biggest loser sliding three percent and printing 36 cents in last 24 hours. I remain stead fast and my approach is simple. Even though it’s obvious that buyers-across the board by the way-are in charge, bull pressure is waning.

It is because of this that I expect sellers to drive prices towards key support lines at 30 cents or until a stochastic buy signal prints in the 4 HR chart. Before then, any surge below 35 cents is inviting for sellers who should instead aim for 30 cents or there about.


By now, you should have your first IOTA newsletter assuming you subscribed to IOTA’s news website. Other than that, prices are generally stable following that Hannover Messe “pitch” where Fujitsu and a couple of other IoT supporters were presenting.

So far we have 5 of the world’s biggest brands as Deutsche Telkom, Bosch, DXC, and possibly Nestle in the IOTA camp. There are more to follow and that is why in the long-term, IOTA is a bullish. Let’s also not forget about CarrIOTA amazing 1.2Txs/H through put that would help suppose adoption spikes.

Apparently, every IOTA lower low is another loading zone and so far, prices are above $2 which is quite impressive. In my view and considering the waning buy pressure, a pull back below the middle BB in the 4HR chart towards $1.80 would be perfect for buyers.

In that case, I recommend not fading the current trend but rather remaining neutral until a stochastic buy signal prints or there are strong bullish candlestick forming at our key support lines.


Regardless of bumps, the ride up has been awesome. For all we know, we can attribute the spike in cryptocurrency market cap-it’s now at $396 billion to the current appreciation of EOS and of course Bitcoin which is still king.

Anyhow, recent development is that BitFinex is presenting itself as a potential EOS BP. As such, there will be EOSFinex, a DEX platform guaranteeing peed, high performance and scalability in mind. It will also be the first DEX to launch on the EOSIO blockchain.

If you also missed EOSDAC air drop, MEET is on the way and you should register before June 1, 2018.

Price wise, it’s not rocket science to see that distribution and selling pressure at $12. As visible from the chart, prices have been in consolidation mode in the last 24 hours with EOS shedding two percent in the process.

This is what I was expecting. So, until strong buy momentum build up, I shall be net bearish and expect potential reversals to happen ideally between $8 and $9.5. However, if prices surge past $12, we can cancel this short term correction.

LTC/USD (Litecoin)

As much as Litecoin is outside the top 5 spot, I believe it shall recover and claim its initial position assuming EOSIO launch is a disappointment. After all, rumors are rife that EOS will after all launch its software and not a platform as many are expecting.

Now will EOS have to counter claims that it’s a useless token? Well, we shall wait and see as price action is the mirror that prints all. At the moment, Litecoin needs to build up its consumer adoption because as we have seen merchant adoption is not a problem.

From the charts and April 21 highs is still a perch that buyers are angling for. In my view, I will still maintain my short-term correction and retest of $140 especially if prices fail to move higher today.

All we need is a strong bearish candlestick pushing prices below the middle BB in our entry chart and Litecoin is likely to drop $140. It’s from there when buyers can find a spring board and race towards $180, our ideal bull target.


The NEO blockchain explorer and light wallet from NewEcono Labs is now live. However, this seems to be of little help to prices as they continue to find liquidation at around $80.

Remember, from our previous NEO technical analysis, our main resistance line is at $80 and until enough buy momentum builds up, prices should correct towards $60.

This will be so especially if bears push prices below $70 and April 21 lows in the coming session. Because of this decreasing buy momentum, I’m neutral until a stochastic buy signal prints or there are reaction at our key support levels between $60 and $65.

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