NEO/USD Long-term Trend – Ranging
Distribution territories: $80.00, $90.00, $100.00.
Accumulation territories: $25.00, $20.00, $15.00.
There has not been a well notable price movement in the market trading status of NEO/USD. Since the beginning of last week, July 22, this cryptocurrency had been experiencing choppy price movements throughout the week. Neither the bears nor the bulls have been able to push the market price movements into a well-defined direction as at now.
The price action has been very deficiently traded closely below and along the 14-day SMA trend-line. The 50-day SMA trend-line is still located above the 14-day SMA with a tiny space between them. The Stochastic Oscillators now appear to be consolidating their stance a bit above range 20. This signifies that exercising of patience needs to adhere for a while.
The general overall bias outlook of this crypto so far is that it has been succumbing to the selling pressure of the U.S. dollar. And, it may not be necessarily ideal for this crypto to be driven more southwards so as to pave way for presumably decent bullish emergence in the market. Traders and investors may potentially make decent profits while an upward breakout eventually occurs. Traders should always take to the trading guiding principles.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.