NEO/USD Long-term Trend – Ranging

Distribution territories: $100.00, $110.00, $120.00.
Accumulation territories: $25.00, $20.00, $15.00.

It was acknowledged that this digital asset had being slowly and steadily suffered a significant decline as paired with the US dollar throughout last week. But, on Saturday, the last day of the month of June, the crypto asset strived to move a bit inactively upward. The bears appear to be taking a leading force impact invariably while a price action tends to happen in the digital market.

The 14-day SMA trend-line has been pressing against the NEO/USD market valuation over a few weeks back. The 50-day SMA has since been located above the 14-day SMA dated back to around June 22 or thereabouts. The Stochastic Oscillators have penetrated into the oversold zone but looks consolidating within it. That signifies that the southward slow-moving price action is getting relaxed.

The bears’ slow-moving price action may still be prolonged within the next several days or weeks has been mostly to the advantage of short entries of the market. The bulls will have to muster a strong catalyst in order to be able to push the price upward past most of lower highs being experienced in the market. The assertion is that an interest should be developed in favor of looking and getting decent long entries with a financial cautious guide.



The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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