- NEO/USD trade has been falling in sequential order since April 6 after obtaining a high mark at $14.
- While the NEO/USD market couldn’t break past either of its two SMA indicators northwards or southwards, there would room for range price movements.
NEO/USD Long-term Trend – Bearish
- Distribution territories: $16, $18, $20
- Accumulation territories: $8, $6, $4
The market valuation of NEO/USD has been notably falling in sequential order since April 6 while a high mark was touched at $14. The cryptocurrency was formerly seen rising over its 14-day SMA indicator to finally arrived at the aforementioned on April 5.
On April 11, the pair saw a notable bearish candlestick formed underneath the trend-line of its 14-day SMA that confirmed the possibility of having more downs at that trading arena in the market. The 50-day SMA is now located at $10 point underneath the 14-day SMA which is a bit bent southwards at the top. The stochastic Oscillators have kept a slanting posture as they have headed downward to touch range 40.
The bears are seemingly still in control of this crypto-market to some extent, but having closely approached the 50-day SMA indicator at $10 mark may get weak for a while. Therefore, there could soon be a session to see a line of range price movements in a near time while either of the two SMA indicators isn’t broken upward or downward.
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