NEO Price Prediction: Long-term (NEO) Value Forecast – July 21
- The bears are in control of the long-term outlook.
- Traders may consider selling with bearish reversal candlesticks pattern as confirmation.
NEO/USD Long-term Trend: Bearish
Supply zone: $15.00, $20.00, $25.00
Demand zone: $2.00, $1.00, $0.50
NEO remains in a bearish trend in its long-term outlook. The bears' pressure on the coin was strong as it gave a deep retracement as predicted in last week article. The 61.8 was broken on 14th July as the coin fell to $11.82.
Increased momentum led to a break of the 78.6 and 88.6 at $10.04 and $9.73 in the demand area. This occurred on 16th and 17th July respectively.
The bears briefly lost momentum for market correction and confirmation of the downward price movement as the bulls stage a comeback with a push of the coin to $13.94 on 20th July and closed the week as an inverted candle as it signals a trend reversal.
Price is below the two EMA which suggest strong bears pressure and the signal of the stochastic oscillator points down at 36% an indication of downward momentum in price of the cryptocurrency.
$17.99 in the demand area is up for a retest and possible breakdown in price at the area to the next key demand.
Live Neo (NEO) Price:
1 NEO/USD =$91.3060 change ~ -2.71%
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.