• The bulls’ energy driving this market’s move to the north may soon be exhausted between $13 and $14 price levels.
• Traders may have to exercise caution while the price is found trading along with the market’s Bollinger Upper Band’s trend-line.

NEO/USD Medium-term Trend: Bullish

• Resistance levels: $15, $16, $17
• Support levels: $11, $10, $9

NEO/USD medium-term market’s trend has been relatively pushing northbound this week after a notable short-lived line of range price movements. Formation of the fifth 4-hour candlestick was bottomed at $12 horizontal line to signify the slow price movements to the north.

And, the 50-day SMA trading indicator was equally found tightly lying around the aforementioned market’s point. Presently, the Bollinger Upper Band trend-line has slowly continued to trend along with the crypto’s price to the north. The Stochastic Oscillators have dipped into the overbought zone to consolidate within it.

Expectantly, the bulls’ energy driving this market’s move to the north may soon be exhausted between $13 and $14 price levels. And, a short range movement may subsequently take place. The bears may as well find a way of coming back if the bulls lose out in momentum to hold further past those points.

NEO/USD Short-term Trend: Bullish

As at the time of writing, the market worth of the NEO/USD has been seen struggling to push northward in the short-term trend. The yesterday’s sessions witnessed a line of higher lows and higher highs above the buy signal line of the 50-day SMA, and within a small space between the Bollinger Middle and Upper Bands’ trend-lines.

Now, price has been trading around the Bollinger Upper Band. The Stochastic Oscillators have just slightly touched past range 80 into the overbought zone.

The NEO/USD market’s journey to the north still has a stronger driving outlook over the bears’ force. However, traders may have to exercise caution while price is found trading along the market’s Bollinger Upper Band’s trend-line to avoid being whipsawed suddenly.

NEO:

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