Neo (NEO) appears to be in bullish momentum and is expected to rise towards its long-term resistance levels.
Binance Coin (BNB) trades within a symmetrical triangle, but the direction of the next step cannot be determined with certainty.
Litecoin (LTC) is also trading within a symmetrical triangle, but a breakout is expected.
Neo (NEO)
NEO hit a high of $ 55.44 on February 22nd but fell immediately afterwards, producing a weekly bearish candlestick.
However, it has gradually moved up since then.
The technical indicators on the weekly timeframe are bullish. The MACD & Stochastic oscillator are moving up, with the latter making a bullish cross.
The RSI has created hidden bullish divergence and is moving up.
The closest resistance areas are between $ 76 and $ 78 and $ 95 and $ 101. The levels are between a long-term confluence of fib retracement (black) and a short-term confluence (white).
Similar to the weekly timeframe, the technical indicators are bullish in the daily timeframe. The MACD has given a bullish reversal signal, the RSI has crossed above 50 and the stochastic oscillator has made a bullish cross.
It also appears that NEO is in subwave five (orange) of an expanded wave three (white).
A potential target for the top of this move is $ 74, which is in line with resistance on the weekly chart.
Highlights
- NEO will encounter resistance at $ 76-78 and $ 95-101.
- It’s likely in one extended bullish wave three.
Litecoin (LTC)
On February 14, LTC hit a high of $ 255.71 before declining. However, the decline only served to validate the $ 175 area as support.
LTC faces resistance at $ 246, the 0.618 fib retracement level of the entire downtrend, measured at the all-time high.
If it does manage to break out, LTC would likely find next resistance near the all-time high of $ 385.
Similar to NEO, the RSI has created a hidden bullish divergence.
The indicators in the daily timeframe are relatively neutral.
However, it appears that LTC is trading within a symmetrical triangle in what is likely the fourth wave (white).
A break above the high of sub-wave B at USD 231 (red line) would confirm that wave five has started.
If so, LTC would likely make another attempt at its all-time high.
Highlights
- LTC trades in a symmetrical triangle.
- There is support and resistance at $ 175 and $ 246, respectively.
Binance Coin (BNB)
The NBB has been down since it hit an all-time high of $ 348.69. This happened on February 19th.
Immediately afterwards it fell sharply, but has been consolidating since February 23.
The move looks like a symmetrical triangle where BNB is currently right on the resistance line. Short term indicators are bullish.
Even if this is a triangle (not yet confirmed), another rejection would be expected before the breakout that would complete the e-wave.
In the daily timeframe, technical indicators are neutral. The RSI is right on line 50 and the stochastic oscillator has yet to draw a bullish cross.
Currently, the BNB is trading right at the resistance of 0.618 fib retracement at $ 286. If it does manage to break out, the token will find the next resistance area at $ 348 and then at $ 447.
However, the previous rise is completely parabolic, making it nearly impossible to determine the direction of future movement.
Highlights
- The NBB acts in a symmetrical triangle.
- Technical indicators are undecided.
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