NEO/USD Long-term Trend – Ranging
- Distribution territories: $11, $14, $17
- Accumulation territories: $5, $4, $3
Despite a sudden spike in the NEO/USD market valuation on February 8, the crypto still moves around last week’s $8 upper range mark until present. As at now, the pair has continued to fluctuate around the 50-day SMA indicator.
The indicators are both located within $8 and $6 horizontal market points as the 50-day SMA is located over the 14-day SMA. The Stochastic Oscillators have opened hairs at around range 60. They seemingly point north-east to suggest exercising of caution while placing a position for a while.
The $8 and $6 price territories are the two key points currently in the market to determine the direction of the two market movers, either a breakout or a breakdown eventually occurs. On the contrary, a reversal could also emerge to nullify either of the two presumed trends in the course. Traders are enjoined to pay keen attention while placing an order in this crypto-trade.
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