KPN to Host NEO Consensus Node: Trade
- Quick Update: KPN has been voted in as a NEO Mainnet Consensus Code
- They were elected 2 days ago – with news only released 20 Mins ago.
- This increases the decentralisation of NEO.
Moments ago, news was released on the wire that KPN, one of the largest dutch Telecom services have been voted in as a NEO Mainnet Consensus Node.
This will further encourage Decentralisation over the platform. The full article can be viewed here:
What does that do for a NEO Trade
- NEO has been in accumulation for the past 2 months, trading between several dollar points.
- This mirrors the same trading pattern that occurred between October and December before it shot up all the way to highs of $190 from $25.
- On All the higher time frames, support appears to have moved from $14 seen in August to $15.50. This area indicates a heavy level of buys below.
- A dump on Higher time frames has been heavily rejected.
- There has been increasing buy side support – this is what stopped the dump.
- On-Balance Volume – An indicator to show Market interest has increased heavily over the past 10 days.
- Those planning Short-Term trades must watch out for a gap at $16.25 that needs to be filled.
- The moving averages are currently acting as Resistance – The KPN news should be reflected in the market over the next 2 days causing NEO to trade above $20 by the Middle of the Week.
A short-term trade should enter a long from current levels with a stop loss at $15 and a take profit above $30, watching out for the $22.5 Level.
A long-term Investor should enter an investment from between $15-16.50 with a take profit of over $100.
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