• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Fenbushi-NEO Partnership Spell Doom For Crypto Public Addresses: NEO Technical Analysis

Dalmas Ngetich by Dalmas Ngetich
3 years ago
in Uncategorized
Reading Time: 3min read
Fenbushi-NEO Partnership Spell Doom For Crypto Public Addresses: NEO Technical Analysis
Advertisement
Listen to Article

It’s a wholesale market slide and NEO is no exception. In fact it’s out of the top 10 following Tron market cap increment. Relative to other coins, NEO is down 15 percent for the week but reflective of higher highs in the last few days, it is recovering losses.

In my view, I expect NEO prices to appreciate especially if we see a strong bullish break out above $70. From there, NEO buyers can aim for $90. If not, any break below May 11 lows at $55 would likely usher in bears that might drive prices back to $40.

From the News

It’s irrefutable that Bitcoin dominance is the crypto market Achilles’ heel. Its swings not only destabilize altcoins current trends but shifts in capital often cause drastic value erosion due to increased volatility. The only thing that we can now seek solace is its decreasing dominance. Back in Q3 2017, Bitcoin controlled more than 50 percent of all cryptocurrency transaction but as value was found in other better alternatives as proponents put it, its dominance now stands at around 35 percent. That is cool as we are constantly seeking for balance in this sphere.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Now, on the fundamental front, NEO has been doing a wonderful job. There European Tour can be said was successful especially when it comes to branding and creating that awareness. It needs to lose that “Chinese Ethereum” tag because for sure, NEO is a coin on its own. This is there reason why we are seeing some fruitful partnership since the beginning of the month.

To begin with, there is a new partnership between Fenbushi Capital and NEO via its subsidiaries: NEO Global Capital (NGC) and Name Service Project (NNS). The former is the investment arm of NEO while the latter is a project relying on the NEO blockchain that aims to replace those long wallet addresses with words or phrases. The new alliance shall allow users in the future to use .neo domains instead of cumbersome, hard to remember public addresses to facilitate transfers.

NewEconoLabs (@NewEconoLab) have announced strategic partnerships with Fenbushi Captial and NEO Global Capital for the $NEO Name Service project (@NeoNameService). https://t.co/kx4o1HhNzj

— Neo News (@NEOnewstoday) May 5, 2018

NEO Technical Analysis

Weekly Chart

NEO Technical Analysis
NEO Weekly Chart by Trading View

Of course, depending on where your money is at-long or short, it’s likely that bears would drive prices lower today. That’s when we consider a top down approach where it seems bears are in charge both the weekly and monthly charts.

Our technical point of concern is that attempted swing in momentum as that stochastic buy signal shows in the weekly chart. Then again, in the last two weeks after week ending April 29 retest of the middle BB, the follow through bear candlesticks are low in volumes.

Yes, prices are lower but participation rate is low. Volumes peaked at 2.15 million and despite those long bear candlesticks, last week candlestick ended up with 1.35 million. We can say this is a long covering as supply is low and because of this, I remain neutral with a short to medium term bullish skew.

Daily Chart

NEO Technical Analysis
NEO Daily Chart by Trading View

First, it’s clear that by May 12, there was a NEO under valuation after that whole candlestick close below the lower BB. As undervaluation trades dictate, a recovery was inevitable and that’s exactly what has been happening in the past few days.

We have those nice higher highs signaling bullish pressure trending within May 11 high low. Because of this, I recommend buys with stops at $55. On the other hand, conservatives should wait for a clear up thrust and breach of $70 before initiating trades. Otherwise, any drop below $55 would definitely invalidate this trade.

Tags: NEO Fenbushi Capital PartnershipNEO NNSneo technical analysis
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Ripple (XRP)

Charted: Ripple (XRP) Testing Crucial Support, Why It Could Nosedive

9 mins ago
Ethereum

TA: Ethereum Lacks Momentum Above $1,350, Why ETH Could Correct To $1,180

2 hours ago
Bitcoin

TA: Bitcoin Holds Strong At $31K, Why The Bulls Are Facing Uphill Task

4 hours ago
uniswap defi crypto dex

The Age of Uniswap: DEX Volume Grows 1100x Year-Over-Year

6 hours ago
defi bitcoin crypto wheel of fortune

Millions Learn About DeFi From Wheel Of Fortune Contestant

11 hours ago
Bitcoin

Here’s the Key Level Bitcoin Needs to Reclaim for Bulls to Take Control

11 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Coinbase Custody to Support Dvision Network (DVI)

January 26, 2021

A New Year – New Opportunities in Crypto

January 26, 2021

1xBit Introduces New Live Casino Tournament DEAL OR NO DEAL

January 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.