NEO reaches record high

There will always be winners and losers in the crypto race, and while most altcoins are still flying high from levels a couple of months ago, some tend to stand out in the crowd. NEO is one of those coins that has remained bullish when the bears have influenced the rest. Last week saw a huge sell off on the back of FUD and fake news out of South Korea. There was no crypto ban in the Southeast Asian nation despite some leading news agencies reporting so. What actually transpired was a ban on anonymous trading accounts to prevent illegal activities such as money laundering.

Altcoins, which are traded heavily in South Korea, fell across the board last week however NEO remained strong and continued upwards. The Chinese Ethereum as it is often called reached a new record high just a couple of hours ago during the Asian trading session. According to Coinmarketcap, which no longer includes Korean exchanges, it climbed to $176, up over 90% from the $92 it traded for at the start of last week.

NEO has weathered the digital storm and remained in a steady uptrend for the past month; it is often seen as being more stable than many of the other altcoins which are frequently pumped and dumped. NEO is traded primarily on Binance with almost 40% share, followed by Bittrex taking around 12%. Total market capacity sits at just over $10 billion at the time of writing with 24 hour volume at $720 million according to Coinmarketcap.

NEO DevCon
While most new projects still use Ethereum as their primary platform NEO is gaining momentum, especially in China where it already has a number of partners. A developer conference has been planned for the end of January in San Francisco where, according to their website, the community plans to come together;

“With multiple sessions and workshops NEO DevCon is bringing the NEO community together for a 2-day conference full of innovative ideas and projects, featuring many top speakers from the Blockchain space.”

Key speakers will include founder Da Hongfei. Further events have recently taken place in Amsterdam and Shanghai where developers and blockchain experts have lectured on the merits of the NEO Smart Economy. At the time of writing NEO was trading at $156, up over 12% on the day.

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No one can deny cryptocurrency is about much more than just Bitcoin. That is a positive development, as Bitcoin is not perfect. Nor does it have all of the answers to our problems either. It is a good currency at times, but right now, it’s not in the best of shapes. As a result, mainstream companies are slowly showing an interest in other currencies. KPN, for example, has decided to host a dedicated NEO consensus node in their data center. An interesting decision by the Dutch telco.

There is an interesting future ahead for all currencies that are not Bitcoin. Especially those which offer something entirely different from established currencies. NEO is similar to Ethereum in some ways, yet completely different in other aspects. So far, this altcoin has seen great success throughout 2017. It seems that powerful trend will continue into early 2018. Especially when they have some big announcements to make in the coming months.

KPN Sees Merit in NEO and the Smart Economy

One of those announcements has to do with KPN. Most people know this company because it’s one of the largest Dutch telecommunications companies to date. Surprisingly, KPN decided to hop on the NEO bandwagon. More specifically, the company will host an NEO consensus node within their data center. That in itself is a rather surprising development. Then again, the giant has shown an interest in NEO and the smart economy before. It seems they are only now putting their plans into action, which can have some interesting consequences.

One could argue this news has no major impact. At the same time, the telco giant purposefully chose this altcoin over all other cryptocurrencies on the market. They are seemingly not interested in Bitcoin, Ethereum, Litecoin or XR. Instead, they want to support NEO and become a part of the smart economy. It is an interesting development which will have major consequences. What those consequences might be, is anybody’s guess right now. It is a massive notch in the belt for NEO, though.

For now, it doesn’t seem as if this should aspect the NEO price all that much. Having KPN on board is significant, but ultimately just a first step. We do know the project wants to further decentralize their consensus node mechanism. This may very well be a big step toward achieving that goal in the future. At the same time, we might see other technology companies show a big interest in other cryptocurrency nodes or similar systems. Only time will tell what the future holds. For now, things are looking good for NEO, but this is not an earth-shattering development either.

Header image courtesy of Shutterstock

It’s always good to see existing cryptocurrency services support new currencies. In the case of ShapeShift, they have been adding quite a few coins throughout 2017. It seems this trend will carry over into 2018, as the first new currency has been added already. NEO, one of the top 15 cryptocurrencies, is now available for trading on this platform.

Supporting different currencies is the bread and butter of ShapeShift. This service allows users to convert between different currencies without creating an account. Although it can’t be used for major transactions in one go, it has a certain appeal. Especially for users who don’t want to rely on regular exchanges, such a platform can make a big difference. After all, it is convenient, has low fees, and transactions are completed very quickly. Adding NEO to the list of supported currencies makes a lot of sense.

NEO Trading is Live on ShapeShift

As a result of this move, NEO can now be traded against all other supported currencies. This will give the popular altcoin a lot of new trading markets waiting to be explored in the future. Right now, trading NEO is somewhat limited to Bitcoin and Ethereum across most platforms. With ShapeShift, about 30 different combinations are added to this list as we speak. It is always good to have more options at one’s disposal, to say the very least.

As is always the case, it remains to be seen if this will generate more interest in NEO. While it is a popular altcoin, it’s not even close to rivaling Ethereum. That seems a bit odd, considering this altcoin refers to itself as the Ethereum of China. It will be interesting to see how the future plays out for this currency. Its value has gone up steadily throughout 2017 and that trend is still in place during the first week of the new year.

ShapeShift has quickly become one of the most popular cryptocurrency conversion services in the world. Their service is easy to use and a lot of currencies are supported as we speak. The addition of NEO will be beneficial to this company as well, in the long run. For now, it remains to be seen if there is sufficient demand to warrant this addition. Only time will tell if that is effectively the case.

Most of this week’s crypto news has been dominated by Litecoin and Ethereum. Both have broken all-time highs and both have taken some of the limelight from big daddy Bitcoin which has ranged between $16,000 and $17,400 over the past few days. LTC has corrected from a previous top of $338 on December 12 and Ethereum is still hitting new tops surpassing $750 a few hours ago.

Other altcoins have been up and down but one that has made big positive moves in the past day or two is NEO. Often referred to as the Chinese Ethereum, NEO has been trading pretty flat over the past few months. Its last flurry of activity was in mid-August when it was re-branded from its previous incarnation, Antshares. It reached a high of $48 and has been falling back ever since, ranging in a channel between around $25 and $35 for most of September and October.

The Chinese dragon awoke yesterday and broke through key resistance areas around $40. From there on it headed up past $50 for the first time before pulling back slightly. NEO has jumped around 48% in just over 48 hours.

NEO is traded mostly on Bittrex which has almost 30% of the total; second exchange is Binance with just over 25% followed by Bitfinex at 21%. The total volume in the past 24 hours according to was $433 million and market cap currently stands at $3.2 billion.

News of a partnership between NEO, Regtech leader Coinfirm, and the specialist venture platform QRC may have initiated the push. The trio will be working together to nurture a compliant blockchain ‘smart economy’ with a particular focus in Asia. This week’s collaboration was initiated when Coinfirm CEO and Co-Founder Pawel Kuskowski and QRC CEO Adam Vaziri joined the NEO team at NEO’s blockchain competition kickoff event in Tokyo according to PR Newswire.

NEO, Coinfirm and QRC have teamed up to address the enduring insufficiency in blockchain regulation which encumbers every country with a crypto currency exchange market. Tackling this obstruction could open up the entire crypto ecosystem to the mass market, and support the trend for ICO’s which have already been banned in China and South Korea.

Similar to Ethereum, NEO is both a crypto currency and a blockchain platform for decentralized apps. Western speculators have been drawn to its Chinese origin for the prospect of huge growth. Any news that the Chinese government will ease restrictions and officially approve the NEO platform is eagerly awaited. Until then NEO ‘hodlers’ can enjoy a rare spurt up the charts.

Bitcoin continues to dominate the news as prices nudged over $14,000 in Asian trading this morning, up almost $2,000 in 24 hours. The surge is likely to be off the back of news that the big boys are starting to entertain cryptocurrencies. JP Morgan switching tack and backing Bitcoin as the new gold and Nasdaq recently joining the fray has done wonders for BTC trading. The imminent launch of CBOE trading on December 10 and CME Bitcoin futures shortly after has also boosted price and market sentiment. In addition to this are a number of hard forks and the promise of the free equivalent coin that usually comes with them.

Getting lost among the hype are the altcoins, many of which remain undervalued. One such crypto asset that has gained over 20,000% this year alone is NEO, often referred to as Chinese Ethereum. NEO was rebranded from its previous incarnation, Antshares, back in August when price rocketed from around $8 up to almost $50 – in April it was still priced at $0.20. Since China’s ICO ban NEO fell slowly back to earth as most pump and dumps do and wallowed between $20 and $27 from September to November.

Many of the altcoins have enjoyed price spurts this week as the daddy Bitcoin has pulled them all up with it. Most can only be traded for in BTC on various exchanges that do not accept fiat which explains the often mirrored chart patterns. NEO jumped to as high as $40 but has now dropped back again to around $34 and is still falling. According to, it is the 14th largest cryptocurrency with a market capacity of $2.2 billion.

Da Hongfei, CEO of Onchain, and the founder of NEO isn’t worried. He has acknowledged that Bitcoin itself may be a bubble but says it is completely natural for emerging technologies and industries. The tech entrepreneur has big plans for NEO, many of which involve branching out from China. His vision of a ‘smart economy’ requires a platform that is already capable of integration with current systems and technology, which NEO apparently is. It is for this reason and its potential in the powerhouse that is the Chinese economy and beyond that crypto, analysts say that the coin is still undervalued.

With most of the current decentralized apps (dApps) being hosted on the Ethereum network, there is a competitive market for them which NEO aims to be a part of. A number of ICOs based on the NEO network are in the pipeline though it remains to be seen if the Chinese government will intervene again. There is an emerging market for dApps on both Ethereum and NEO and these are still very early days.


That flash buy on Friday pushed NEO prices higher. However, since price movement over the weekend remained muted, the minor resistance trend line drawn from 08.10.2017 and 14.10.2017 highs and the 20 period MA is a lifeline for NEO bulls. Right now, the price is rejecting any price above $30 and continues to trend lower. Anyway, my deduction is simple, there is no buy signal which we expected after that bullish push on Friday and consequent bull volumes are waning. Break below support of $24 means sellers are in charge and USD bulls are in the trade. Conversely, break above $32 resistance triggers NEO bulls. Refer Figure 1 (Above): NEOUSD-Daily Chart-16.10.2017


altcoin, analysis, dash, oct 16
Figure 2: DASHUSD-Daily Chart-16.10.2017

Price is oscillating within a tight $80 range marked by 12.10.2017 doji candlestick. By any standard, bull price rejection happens around $330 to $340 which is a resistance confluence zone marked by the resistance trend line-that between 24.09.2017 and 12.10.2017 highs and the support turned resistance drawn from 14.09.2017 and 05.10.2017 lows. My recommendation is patience until there is a break above $340 for bull entry or if in case that resistance trend line stands and the bear trend continues, sellers should join in below $250 which is a safe entry zone. Either way, there is a buy signal in place but these whipsaws and dojis give mix signals which is not beneficial for trend traders. We remain neutral as we watch stochastics and volume behavior to predict the most probable trend direction.


iota, altcoin, analysis, oct 16,
Figure 3: IOTUSD-Daily Chart-16.10.2017

Buy momentum is sustained as shown by stochastics and on another level, the resistance trend line managed to rebuff any price appreciation above $0.45. On these three days when prices were constricted within a tight $0.10 range defined from 12.10.2017 Hi-Los, volumes remained tepid and on a negative trajectory after recording a record 19M. The 19M surge in bear volumes was the force behind that bear candlestick which closed below $0.45. Following my Saturday’s recommendation, bull trigger happens when there is a break above $0.48 highs of 12.10.2017 and a consequent break above 30.09.2017 and 12.10.2017 resistance trend line. Important bear levels remain at $0.38 which is 04.09.2017, 15.09.2017 and 12.10.2017 support levels.


xmr, monero, altcoin, analysis, oct 16
Figure 4: Monero-XMRUSD-Daily Chart-16.10.2017

There was a brief price appreciation on Saturday before a correction on Sunday. For the record, price tested 23.08.2017, 15.09.2017 and 27.09.2017 highs of $102. That level is turning out to be significant for bulls. In the meantime though, correction towards the support trend line or the 20 period moving average around $86 to $95 provides a wonderful opportunity for bulls to buy at a cheap and aim for that resistance level at $122 as long as there is a buy signal and increasing momentum. Also, notice how volumes have been sustained above 25K daily average in the past 3 days. There is obvious supply-demand push and pull at these current price levels.


LSK, lisk, altcoin, analysis, oct 16
Figure 5: LSKUSD-Daily Chart-16.10.2017

Despite across the board bull pressure in most alt-coins, USD bulls are pushing LSK down. On Saturday, we mentioned that as long as prices remain below that resistance trend line then we remain bears until when there is a clear push above. That should be accompanied by a strong bullish engulfing pattern or a two-bar reversal pattern. In this case, though, price action remains within 12.10.2017 Hi-Los and that minor support trend line connecting 09.10.2017 and 14.10.2017 lows still holds. There is a buy signal but bear volumes are still below the daily average trading range and therefore, today’s candlestick can lead to a break above resistance or below minor support for bear trend continuation. We remain neutral for now until a clear trend is defined.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View


12.10.2017 and 13.10.2017 lows of $26 will be our minor support level. Actually, a double bar reversal pattern was anchored there when yesterday’s candle closed. For now, any appreciation to gauge bullish presence will only be valid with prices closing above $33 and a stochastics buy signal in place. In the meantime, the 20 period moving average and support turned resistance is our ceiling and it looks likely to be broken in the short term. Refer Figure 1 (above): NEOUSD-Daily Chart-14.10.2017.


dash, altcoin, analysis, oct 14, cryptocurrency
Figure 2: DASHUSD-Daily Chart-14.10.2017

The above average bullish volumes of 13.10.2017 drove prices higher confirming that 09.10.2017 was indeed a fake bear break out. Relative to price action characteristics, stochastics were turning from the oversold territory when price broke below support trend line and looked like bears were actually in charge after 09.10.2017. Since there is clear price rejection above $330, it’s safe to wait for a break above that region of resistance marked by the resistance trend line and the 20 period MA before going long.


altcoin, analysis, IOTA, oct 14, cryptocurrency
Figure 3: IOTUSD-Daily Chart-14.10.2017

There is a high likelihood that 12.10.2017 break-out below $0.45 and support line will form a basis for a two-bar reversal pattern. Advised from yesterday’s developments, and failure of price action to trend lower, the previous bear projection is now invalid. Since price action is still trending within a tight $0.10 range, I will wait for a break above resistance trend line and fine-tune long entries in shorter time frames with perfect prices around support at $0.45. A safe stop loss will be below second support at $0.38 with an immediate bull target at $0.65.


monero, xmr, altcoin, analysis, cryptocurrency, oct 14
Figure 4: Monero-XMRUSD-Daily Chart-14.10.2017

Our bear projection was invalidated on two levels. First off, that bullish engulfing pattern thrusting and closing above the support-turned-resistance trend line and the 20 period MA.  Secondly, an uptick in bull volumes as shown by the volumes indicator, fuelling buy momentum and pushing prices higher. As noted yesterday, any appreciation and candlestick close above $90 means bulls are in charge. Therefore, judging from 13.10.2017 candlestick close-which was by the way accompanied by high -around $13 range, expect some consolidation in lower time frames in the next few trading days. Zoom into lower time frames and buy at any correction towards support.


LSK, LISK, altcoin, analysis, cryptocurrency,
Figure 5: LSKUSD-Daily Chart-14.10.2017

As long as the price is held below that region of resistance confluence, then bears should be in charge. For day trades though, that minor support trend line connecting 09.10.2017 and 13.10.2017 lows remains significant because, on three different occasions, bulls have rejected price erosion below $4.5 resulting in those long lower wicks and hints of buy pressure. However, despite that buy blip, immediate take profit target is at $4 now that bear volumes are surging, surpassing daily averages.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View


After a spin and horizontal consolidation along our clear resistance trend line and the 20 period MA, sellers took charge and 12.10.2017 candlestick closed as a bear. There is also a long upper wick bouncing off resistance and this means we go short today. Place a stop loss above $32 and aim for that support zone between $14 and $20. Refer Figure 1 (Above): NEOUSD-Daily Chart-13.10.2017


altcoin, analysis, dash, oct 13, cryptocurrency
Figure 2: DASHUSD-Daily Chart-13.10.2017

Notice the bear volume spike on 12.10.2017 and price failure to close above the support turned resistance trend line at $320. So far, price action is moving higher in lower time frames but as long as it doesn’t close above $320 – a region of strong resistance zone as shown by that confluence of critical lines, bears will be in charge. After all, since price tested support at $250, there has been no significant trend established rather than retests, whipsaws, and consolidation which is profitable for scalpers. Sellers should short and aim for that support and first take profit level at $220.


altcoin, analysis, cryptocurrency,
Figure 3: IOTUSD-Daily Chart-13.10.2017

For any support or resistance level to be convincingly broken, price slide or appreciation must be accompanied by the large candlestick. Well, 13.10.2017 candlestick was huge, trading at a $0.10 range and closed at $0.38. This bearish volume surge drove prices lower as 19M bears jumped in. At $0.48 highs, the resistance trend line at $0.50 stood and today it looks like price action will trend along the lower BB, probably band and close lower.


XMR, altcoin, analysis, cryptocurrency,
Figure 4: Monero-XMRUSD-Daily Chart-13.10.2017

12.10.2017 candlestick closed as a bear, turning away from the support turned resistance trend line at $86.3. From break out pattern sub-sections and trading strategy, there must be a retest and right now, as price action trends above $87, it provides a perfect opportunity to initiate shorts in lower time frames. Looking at the volume, you can note that there has been a jump in volumes to around $20K, only superseded by 09.10.2017 volumes which recorded 25K breaking above the daily volume average. Both of them are also bears meaning that bears are in charge despite the temporary trend higher. Of course, given the volatility, our bear projections will be invalidated only when price and bulls push higher and closed strongly above $90 or the support turned resistance trend line.


altcoin, analysis, lisk, cryptocurrency
Figure 5: LSKUSD-Daily Chart-13.10.2017

Two days of wild swings it has. Note that bearish volume upswing as yesterday’s candlesstick closed. You will detect that as sellers jumped in, volumes spiked to 781K-way above daily average of 585K and then boom, the daily resistance trend line and the 20 period MA acted as a ceiling preventing further price appreciation. Secondly, look at how the previous stochastic buy momentum has begun converging meaning buy momentum is subsiding as prices turn lower. This is turning out as a bear break out with classic characteristics of that trading strategy. Best time was to short yesterday as recommended with a stop loss above support trend line at $6.1. However, since swings are toning down, you can initiate sells every time there is a retest of resistance trend line with immediate take profit level at $4.2

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View


Including today’s candlestick, we can conclude that the last 3 candlesticks were presentative of a horizontal consolidation resulting into dojis. The technical term for such formation is a “spinning top”. In the real sense, there was reduced volatility and participation levels remain flat over the same period as shown by below average volumes. Furthermore, the price is still oscillating within 09.10.2017 Hi-Los-a tight $9 range. However, chances of a break below temporary support of $25, and a consequent bear trigger remains high. Sellers should actually begin selling and aim at $20 and $14 respectively. A reliable stop loss should be placed above today’s highs at around $30. Refer Figure 1 (above): NEOUSD-Daily Chart-12.10.2017


dash, altcoin, analysis, cryptocurrency
Figure 2: DASHUSD-Daily Chart-12.10.2017

Yesterday’s and today’s candlesticks ended up testing support turned resistance trend line and the 20 period MA as price moved higher above $315. It is also likely that today’s candlestick might end up as a doji with a long upper wick meaning sell pressure. If sustained, then we retain our bear forecast and enter short in short time frames-I recommend 4hr chart and nothing lower by the way. I will reiterate that any bullish price close above $320 accompanied by a sharp bullish volume spike means canceling our short projections. Overly, I remain bearish and the recent DASH appreciation offers a perfect shorting opportunity. Sellers should enter short, place a stop loss above $320 and aim at $220.


IOTA, altcoin, analysis, cryptocurrencies, IOTA
Figure 3: IOTUSD-Daily Chart-12.10.2017

At the end of the day, the resistance trend line drawn from 30.09.2017 and 08.10.2017 highs managed to reject further price appreciation. With a highs of around $0.49, yesterday’s candlestick closed as a doji and was followed by further price erosion today. $0.45 is our support and it is likely that it will be broken. If it happens, sellers should initiate positions with a stop loss above $0.50 and aim at $0.30 which is another resistance turned support.


Monero, XMR, altcoin, analysis,
Figure 4: Monero-XMRUSD-Daily Chart-12.10.2017

I had to zoom this out for you to clearly see. One thing is for sure, there was a clear break below support trend line on 09.10.2017 and that constituted a bear break out. No doubt about that. Secondly, as a feature of a breakout, there must be a retest. The support turned resistance trend line was retested on 10.10.2017 and 11.10.2017 at around $86. Today price reached a high of $89 but then look at the sell pressure. Bears are jumping in and driving prices lower as shown by that long upper wick resulting in a temporary inverted hammer as the day progress. Given these technical formations, I’m net bearish.


LSK, Lisk, blockchain, cryptocurrency, altcoin, analysis
Figure 5: LSKUSD-Daily Chart-12.10.2017

Over the last 4 days, a classic Evening Star reversal pattern was formed. In fact, with a high of $5.5 on 11.10.2017, price action tested the all-important support turned resistance trend line. This level of resistance defines price action trend in the short term. As indicated yesterday, it is imperative for prices to stay below $5.5 if bears are to profit. Today, prices trended even higher testing $5.9. However, candlestick characteristics show that price was quickly rejected and sellers jumped in as shown by that long upper wick. Price is currently just below the daily resistance trend line and the 20 period MA at around $5.2. Further depreciation means that daily resistance level holds and we continue selling.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View


Price action is held within $34 and $25 and so long as volatility doesn’t result in a strong bullish candlestick which closes above $34, we shall continue to treat this rebound as a retest following a breakout. For bear trend to be confirmed, bulls should retest $32-$34 before a correction resulting in a close below yesterday’s lows of $32 and the 20 period MA support. Refer Figure 1 (above): NEOUSD-Daily Chart-11.10.2017


dash, altcoin, analysis, cryptocurrency markets
Figure 2: DASHUSD-Daily Chart-11.10.2017

Further moves lower, is proving futile after price tested $250. I’m still a bear and after a breakout, similar set-ups in the past often show gravitation higher and retest of support turned resistance which in this case will be at around $300 to $310. Any price appreciation with sell signals in lower time frames around $290 provides a wonderful shorting opportunity for sellers. However, if prices continue to rise in sync with stochastic bullish momentum and close above $320, 09.10.2017 will definitely be a fake bear break-out.


IOTA, oct 11, analysis, altcoins, market
Figure 3: IOTUSD-Daily Chart-11.10.2017

On Monday, the first take profit level was at $0.45 was hit. Since Monday was particularly bearish with strong bearish volumes driving prices lower, consolidation was expected as historically proven. Volumes dipped and yesterday ended up higher, exciting bulls. There are new sets of conditions for bears to be sure of their trend. First, the support line at $0.45 must be broken and secondly, the resistance trend line drawn from 30.09.2017 and 06.10.2017 highs must hold and rebuff any price appreciation. If there is a bull volume spike and price close above $0.52, we enter long and aim at the first resistance line at $0.65.


xmr, altcoins, analysis, monero, oct 11
Figure 4: Monero-XMRUSD-Daily Chart-11.10.2017

Price action has reverted back to its daily average range even after Monday’s bear break out. At just $4 range and a bullish candlestick, bears gave up on some of their Monday’s gain. Since our bearish view remains invariable, 09.10.2017 lows of $82 will be our minor support line and any further price depreciation below it means a break away from the BB squeeze. This will cement bear position and confirm a bear break out. However, If price close higher, then $82 lows will be in sync with 24.08.2017 and 22.09.2017 lows for a double bottom reversal pattern. In that case, a break above the 20 period MA and resistance trend line will invalidate my bear projection and buyers should aim at $106.


lisk, lsk, altcoin, analysis, cryptocurrency
Figure 5: LSKUSD-Daily Chart-11.10.2017

As noted yesterday, the short to medium trend of this pair depended directly on the nature of participants. In this case, it turned out that buy volume was high after Monday when candlestick closed as a doji. You can also note that despite the lower BB hugging, the price actually closed below the lower band. As a result momentum up was confirmed yesterday with a buy signal and an evening star in the process. Since this is a 3-star reversal pattern and double bottoms at 09.10.2017 and 15.09.2017 lows, we close our sells and aim for 18.09.2017 highs of $6.85. Trend high will be strong especially if price action break and close above support turned resistance trend line at $5.5.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View