2019-2-17 12:34 |
NEO/USD Long-term Trend – Ranging Distribution territories: $11, $13, $15 Accumulation territories: $6, $5, $4
There have been weak higher lows in the NEO/USD market stance since February 10. The US dollar now appears losing weight valuation slightly against the crypto, hence the cause for entering other upper range zones. Currently, the range zones are now found between $9 and $8 price points.
The two SMAs are located below the market range spots but they are closer to its lower mark. The 14-day SMA has touched the 50-day SMA from below. Price now seems to push northwards strong within the range zones. The Stochastic Oscillators have crossed hairs below range 80 to slightly point north.
Indicators have now given it that the bulls have been vigorously striving to stage a convincing come-back into this crypto-trade. The NEOUSD market may be finding breaking out of $10 and $11 horizontal marks northwards difficult as there can be a strong reversion at those points during a volatile price action. Therefore, that could result in bulls getting caged. And, those points could as well be good entries for the bears.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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