NEO Price Prediction: Long-term (NEO) Value Forecast – July 13
NEO/USD Long-term Trend: Bearish
Supply zone: $15.00, $20.00, $25.00
Demand zone: $2.00, $1.00, $0.50
NEO is in a bearish trend in its long-term outlook. The tweezer top formed at $17.99 in the supply area on 9th July at the 23.6 fibs implies upward price rejection and subsequently the bears' return. NEOUSD plunges to $15.40 in the demand area breaking the 10-EMA.
The resistance at the 50-EMA was broken due to increased bears pressure as price drops further down to $13.20 in the demand area today 13th July as the trading week draws to a close.
The demand area is the 61.8 fibs a trend reversal zone. Exhaustion of the bearish momentum was not obvious hence reversal at the fib area may occur hence a deeper retracement to 78.6 or 88.6 in the new trading week may occur as the pressure on the coin becomes much stronger in the long-term.
The signal of the stochastic oscillator points down at 15% in the oversold region suggesting a downward momentum in price of the cryptocurrency.
The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Add comment