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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. 

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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