Despite the massive sell-off, NEO was able to bounce off the 75 percent Fibonacci retracement level quickly.
A further increase in demand could take NEO to the 38.2 percent Fibonacci retracement level, at $10.86.
If this happens, NEO may surge for a one to four candlesticks or begin of a new bullish countdown.
NEO could plunge to the next support level at $7.80 or even lower to $6.70.Ontology.
Despite the bullish sentiment that China brought into this cryptocurrency, less than a month later it plummeted to the same level where it began surging.
Now, Ontology is showing several bullish signals on its 12-hour chart.
A series of support and resistance levels could help determine whether Ontology is bound for a bullish impulse.
Conversely, if the bullish signals previously mentioned are invalidated Ontology could continue the bearish trend.
A close below the 50 percent Fibonacci retracement level could jeopardize the bullish outlook.
At the moment, NEO, Ontology, and VeChain present bullish signals estimating that a bullish impulse is underway.
NEO, Ontology, and VeChain appear to be recovering quickly
Published on Nov 26, 2019
by Cryptoslate | Published on Coinage
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