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%

Coin Market Cap

$6.44 Billion

24 Hour Volume

$383.91 Million

24 Hour VWAP

$95

24 Hour Change

$-2.47

 

 

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.

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