NEO Price Prediction: Long-term (NEO) Value Forecast – July 28

Azeez Mustapha
July 28, 2019

• The bears remained in control of the market of the long-term outlook.
• $9.30 in the demand area may be retested this week.

NEO/USD Long-term Trend: Bearish

Supply zone: $15.00, $20.00, $25.00
Demand zone: $2.00, $1.00, $0.50

NEO continues in a bearish trend in its long-term outlook. The week began on a bearish note at $13.61 in the supply area on 21st July with the tweezer top formation. The bullish exhaustion was obvious at this area been the 61.8 fib area a trend reversal zone. The presence of wicks in the candle further confirmed the resumption of the downward continuation.

The cryptocurrency fell to $10.81 in the demand area as the coin journey to retest the previous low of 24th July of $9.73. With the second leg of correction, price rose to $12.40 but rejection at the 10-EMA occurred as the week ended on 27th July.

Price is below the two EMA which suggest strong bears pressure and the signal of the stochastic oscillator is parallel at 35% an indication of minor consolidation before downward momentum in price in the long-term.

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.

Azeez Mustapha

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.