Neo was not spared from the crypto carnage. It dropped to a staggering $31, where it found support at a Fibonacci Fan level, before recovering to $50 which we’ve identified before as a value area. Again, investors should be cautioned that this fallout may continue. Although we had originally defined this phase as Wave 4 of the impulse, it is likely the case that we must redefine our wave to cast current events as our corrective phase.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!