NEO/USD Long-term Trend – Ranging
Distribution territories: $12, $32, $52
Accumulation territories: $3, $2, $1
Since December 9, the NEO/USD market strived to spike northwards, and it only succeeded at testing around $7 mark underneath the sell signal line of the 14-day SMA. At that point, the crypto has been featuring lower lows than lower highs under the 14-day SMA.
$7 and $5 price territories are the present depicted range marks. The 50-day SMA is found above the 14-day SMA. The Stochastic Oscillators have dipped into the oversold zone, they have crossed briefly to point north within it. That could suggest that the bears are relaxing their driving force in the market currently.
Under normal circumstance, the current range zones need to be broken northwards or southwards to have a good sentimental direction of the market movers. And, that is achievable by cautiously awaiting a volatile price action that will favor either of the two directions. Meanwhile, as it is, investors may consider right now joining the market.
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