NEO Price Prediction Today: Daily (NEO) Value Forecast – July 16
- The US dollar has outweighed NEO price to push mostly along the Bollinger Lower Band trend-line to the south.
- The NEO/USD market downward pressure line seems to remain at the $12.50 mark.
NEO/USD Medium-term Trend: Bearish
- Supply levels: $15, $16, $17
- Demand levels: $10, $9, $8
There has been a long short formation of bearish 4-hour candlesticks in the market operations of NEO/USD all these while. In the last medium-term trading activities, the pair traded in a range seeing its indicators pointing to the east. The US dollar has now eventually outweighed the crypto’s price to push mostly along the Bollinger Lower Band trend-line to the south.
Price has been trading in a space between the Bollinger Middle and the Lower Bands. The Stochastic Oscillators have now moved from the oversold zone to almost cross half a distance between ranges 40 and 20 to the south.
NEO market is under selling pressure, and may not be able to come out of it as its bulls could be facing rejection around $13 and $14 price levels. Before suggesting an upward move of this market, a bullish engulfing candlestick needs to form around the Bollinger Lower Band trend-line area.
NEO/USD Short-term Trend: Ranging
In the short-term run of the NEO/USD market as at the time writing today, the pair has had lower lows around price ranges of $12.50 and $12 marks. There was a very slight increase from a low value at $11.17 or thereabout yesterday to trade around the $12.50 upper range value. The 50-day SMA is located within the Bollinger Bands pointing to the south. The Stochastic Oscillators still cross slightly a bit below range 40.
There are yet indications suggesting that the bears haven’t completely done in their pushing of the market. Meanwhile, the downward pressure line seems to remain at the $12.50 mark.
Live Neo (NEO) Price:
1 NEO/USD =$29.6492 change ~ -21.27%
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