Technical Analysis - Ethereum & NEO

https://steemitimages.com/DQmaiaqosxyNRwasiniQHDiimpDsRY2QXZb1Y939YTmr2H9/neo_ether.png

Bitcoin and Bitcoin Cash have been going up and down for some time now, but - as you might have noticed - many other coins are 'moving' within certain bounds. Can we identify investing opportunities for Ethereum and NEO using technical analysis?

Ethereum

https://steemitimages.com/DQmbKBhWQBzLqXp6LGAEa3con6DBVefi6oS1G5RF64NPkf6/ETHUSD%2014-11-2017%202200.png

After an extremely volatile period of two months, in which Ethereum rose from $300 to almost$ 400, dropped to $200 and recovered to$ 300. The past one and a half month did not have large price changes and especially the support barrier of $290 appears to be strong. The barrier has been crossed multiple times, but never below$ 270 and always recovery within one day.

I think there is a resistance area between $330 and$ 350, once it surpasses $350 I suspect the rise to continue and we might see$ 400 soon. Even though Ethereum had some bad press last weeks, there have not been large price drops. In combination with a solid support area, we can certainly state that Ethereum's fundamentals are strong and a bullish period is about to start. So, even if the price goes down and hits $290 again, it might be a good idea to buy in, because the upward potential is larger than the downward risk.

NEO

https://steemitimages.com/DQmWYMnUnF7pZLc44FmPCz4Zp69V3gyaciN3pN9Qmn7mz3T/NEOUSD%2014-11-2017%202230.png

NEO is moving quickly between support ( $26) and resistance ($ 31). It is easy to take advantage of these fluctuations, but you have to be willing to take the risk. There is a buy opportunity if the price hits $26; in this case I would recommend a target price of$ 29. It is also wise to add a stop-loss at $23, because NEO is more volatile than, for example, Ethereum. NEO can easily drop to, say,$ 18 or jump to over $40.

Similarly, we can short NEO once it hits $31. Again, I would use ranges of$ 3 (target: $28, stop-loss:$ 34). In both cases I would stay away from steady increasing/decreasing patterns. The chance of a price correction appears is certainly higher after sudden, large price movements. Given the current price pattern, I would discourage you to short NEO if it continues to climb to $31, but my advice is to buy if the price quickly drops to$ 26.

The method described above has worked pretty well for me. I have also tried it with Ethereum, but it is less usual as it has - in contrast with NEO - less clear boundaries and moves 'slower'. Please share your opinions and give tips how I could improve my analysis. Also, upvotes are always nice!