NEO/USD Long-term Trend – Ranging Distribution territories: $12, $16, $18 Accumulation territories: $5, $4, $3

Since January 11, NEO/USD market worth has been closely ranging around $8 price territory until now. About between last year’s December 25 and January 5, the crypto had once been seen ranging along the same current point.

The present range spots have been observed between $10 and $6 marks while $8 mark is their middle. The two SMAs are being separated a tiny space as the 14-day SMA is located above the 50-day SMA. The Stochastic Oscillators have conjoined hairs to consolidate their movement around range 20. That suggests serious patience to await a strong price action to take place in the market.

The market of NEO/USD may still need to be pushed briefly southwards to test around December 16 last low market point to be able to muster the needful momentum that could bring back the bulls. Traders may be on the lookout for a decent strong reversal around the lower range point or a breakout of the upper range zone to launch a long trading position of the market.

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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