- NEO/USD trade has been basically fluctuating around $10 point over time.
- The NEO/USD market has now had $12, $10 and $8 price points to be considered while entering or joining the crypto-trade.
NEO/USD Long-term Trend – Ranging
- Distribution territories: $14, $16, $18
- Accumulation territories: $7, $5, $3
The market trading zones of NEO/USD have been witnessing a series of little downs and ups over time. Currently, the crypto-trade has been fluctuating around $10 point. The two SMAs are closely situated above the market point as the 14-day SMA has briefly crossed the 50-day SMA from the top.
Price has continued to flutter around the SMAs’ trend-lines. The Stochastic Oscillators now point south-east a bit over range 20. That still suggests the possibility of seeing range price movements in continuation moving mode.
Three key market points now have to be put into consideration while dealing in this crypto-trade. And, they are $12, $10 and $8 marks. The price territories of $10 and $8 points are expected to turn out as the strength mustering zones for the bulls. The $12 mark could be a cautious point if the market rallies after a possible breakout as that could as well cause bulls’ trap.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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