“Here we also do not change our view and the NEO traders should soon see a 43 USD price on their screens. Future sentiment depends from the price action on that level. „
That view was spot on. The price declined and reach the lows on the 44 USD (market is not a pharmacy, so +/- 1 USD margin is possible). That was a really important support (blue). We reached that on the 7th of April and from that point, the bullish correction started. What is important here is that the reversal is not random and on NEO is shaped like a double bottom formation. If the candle from today will close above the 54 USD we will receive a legitimate buy signal here because in this way, the price will break the neckline of this formation (purple).