Best NEO Wallets
  • 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.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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