- NEO/USD market has now entered a range movement.
- The bears are fading off gradually from the NEO/USD market forces of this crypto-trade.
NEO/USD Long-term Trend – Ranging
- Distribution territories: $16, $18, $20
- Accumulation territories: $8, $6, $4
A notable chain of choppy price movements has spotted in the NEO/USD market valuation over a couple of days back. Lately, the crypto-pair was relatively in a bearish outlook while its 14-day SMA was breached southwards to approach a low price mark at $10.
The 50-day SMA indicator was also found at the said market point awaiting the breaking of the bears then. But, they couldn’t even touch it in the long process. Therefore, the need for the current flap movements in the market. The two as SMAs are now located within $12 and $10 range zones of the market. The Stochastic Oscillators are consolidating around range 20.
Reading through the trading indicators, it’s now apparent that the bears are fading off gradually from the market forces of this crypto-trade. Base on that assumption, the bulls may soon potentially have a decent long set-up for their entries. However, there’s still a need to exercise a degree of caution while placing an order in the market.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Cryptocurrency Prices: Live Real-Time Coin Market Cap Values
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