NEO And VeChain Pose Impressive Rallies The Past Week: Analysis

NEO and Vechain have made through some impressive rallies over the past few days while TRON and Ontology are showing bullish signs as well. The traders weigh in and share the bullish predictions as we as we are reading further in the NEO news today.

If you purchased Chinese coins when President Xi Jinping started getting into blockchain technology, the chances are you are likely to profit a lot and these profits would likely be increased if you purchased NEO and VeChain.

Vechain is leading the way for all of the Chinese coins and the cryptocurrency for supply chain management has increased by more than 120 percent after Xi embraced blockchain. VeChain was followed by NEO and the cryptocurrency is up by more than 87 percent against the USD.

These two coins have been really doing well and it seems like both of them are succumbing to profit-making and taking. Vechain is down by more than 4 percent from the recent high of $0.0067390 while NEO dropped 3 percent from the Wednesday high of $13. The sell of put some of the other coins into a position to pump but both of them are still posting five consecutive green candles so it should not come as a surprise of they pull back now.

If the coins pull back, we can see some smart money funneling profits into other Chinese coins such as TRON, Ontology, and Qtum.
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TRON is flashing a few bullish signals now and there and it looks that it will follow the footsteps of Neo and Vechain. TRON even converted the $0.0187 resistance into support and it can also see the impending cross between the 100-day moving average and the 50 days moving average.

Ontology follows the same route and the cryptocurrency converted resistance of about $0.80 into support. It also touts a possible cross between the 100-day moving average so it seems like a coincidence that the two Chinese cryptocurrencies don’t share the same setup but other traders have the same sentiment.

The Chinese coins have a lot of potentials to take the action market away from the bears since the popular trader Crypto Rand is bullish on TRON and sees the exact same setup where the last resistance has been flipped into support.