2019-2-3 13:46 |
NEO/USD Long-term Trend – Ranging Distribution territories: $11, $14, $17 Accumulation territories: $5, $4, $3
NEO/USD price trend has remained to range around $8 and $6 market territories over a couple of weeks back. NEO, as it has been trading against the US dollar, now been hovering around the bottoms of last year’s December 28, and January 14 bullish candlesticks.
Price has been inactively and tightly trading underneath the two SMA indicators within the range zones. The 50-day SMA is slightly situated over the 14-day SMA with a very tight space between them. The Stochastic Oscillators have crossed to point north at range 20. That could mean that bulls are getting set to resurface in the market.
It now appears that the pair is striving to find a strong foundation around the lower range mark, upon which its subsequent swing uptrend may have to build on. Bears may be trapped around $6 and $4 price points as there can be a sudden reversal that may allow a decent buy order within those territories.
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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