- The bulls are in control of the long-term outlook.
- Responsible buying may be considered in bearish exhaustion areas.
NEO/USD Long-term Trend: Bullish
Supply zone: $20.00, $25.00, $30.00
Demand zone: $2.00, $1.00, $0.50
NEO is in the bullish trend in its long-term outlook. The bears could not continue the journey down as the bull stepped in on 9th June at the 50.0 fib area which is at $11.25 in the demand area. The 10-EMA was broken as NEOUSD rose to $12.50.
The bullish pressure remained strong during the week with the cryptocurrency up at $13.55 in the supply area.
$14.50 in the supply area is already attained which is the23.6 fibs area a trend continuation zone as the bulls target a retest of $15.04 and subsequently breakout in the days ahead.
Price is below the two EMAs with the stochastic oscillator signal pointing up at 73%. The upward momentum in price of the coin in the long-term.
The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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