- There are yet general perceptions that the NEO/USD will experience a continuation of choppy price movements in its next trading sessions.
- Traders may suspend their decisions to partake in this market operations for the time being.
NEO/USD Medium-term Trend: Bearish
- Resistance levels: $16, $17, $18
- Support levels: $12, $11, $10
NEO/USD trade activities have been featuring within range zones of different price lines. There’s a sign of weaknesses in the market valuation of NEO since it managed to push past its 50-day SMA indicator to the north to touch a high point at $15 price level.
All the trading indicators are moving in line with the market’s range horizontal lines. The Stochastic oscillators now consolidate around ranges 40 and 20.
There are yet indications supporting that range price movements may be prolonged into the next trading sessions. By that, traders wishing to participate in the current ranging market may have to always watch out for a buy entry at the $13 lower range spot, and a selling point at the $15 upper range spot.
NEO/USD Short-term Trend: Ranging
The NEO/USD market operations have been caged to move within $14 and $13.50 price levels today. The crypto’s strength driving the market’s line to the north has not been succeeding in taking price out of the range zones.
Like wisely, the US dollar has only been taking down the market’s value, not beyond the $13.50 price level. The indicators are located within the range zones. The Stochastic Oscillators have crossed and bent downwards to touch range 20.
The bears may be sitting around the $13.50 lower range spot to consolidate their stance for a while in 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.