NEO Price Prediction: Long-term (NEO) Value Forecast – July 7
- The long-term outlook is an uptrend.
- The 38.2 fib area may be tested before the bulls resume upward price movement.
NEO/USD Long-term Trend: Bullish
Supply zone: $30.00, $40.00, $50.00
Demand zone: $2.00, $1.00, $0.50
NEO remains in the bullish trend in its long-term outlook. The 38.2 fib area as predicted in last week article was tested as the bears pushed the coin down to $15.70 in the demand area on 1st July. The close of the candle as a bullish pin bar signaled the bulls’ takeover.
$18.49 in the supply area was the limit the bulls could take the coin as its lost momentum with the daily candle closing as a bearish doji.
The bears returned and held on to the market as price drops to $16.47 as the market open today at $16.92 as the new trading week began.
The signal of the stochastic oscillator points down at 37% suggesting a downward momentum. A retest at the 38.2 fibs at $15.70 in the demand area may be the bears' target before bulls resume the upward continuation.
$24.00 in the supply area is a key supply area for a retest in the days ahead.
Live Neo (NEO) Price:
1 NEO/USD =$46.8316 change ~ -4.52%
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