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NEO Long-term Price Analysis- April 2

NEO/USD Long-term Trend: Bullish

  • The long-tern outlook is in a bullish trend.
  • Traders should look to buy at pullback areas
  • Supply zone: $15.00, $20.00, $25.00
  • Demand zone: $2.00, $1.00, $0.50

NEO is in the uptrend in its long-term outlook. The bears’ pressure was lost on 26th March as price drops to $8.64 in the demand area with the candle closing as a pinbar, an indication of a reversal, as the bulls staged a comeback within the range, EOS rose to $9.45 in the supply area.

The momentum to the upside increased as indicated with the break of the upper supply area of the range on 29th March. NEO was up at $10.41 in the supply area.

NEO chart by TradingView

The beginning of the new week and month saw the bulls remaining in firm control of the market. $11.37 in the supply area has been attained already. This was the high since the year started as the coin continue to rally.

The price is above the 10-EMA and the stochastic oscillator signal points up at 85% an indication of upward momentum in price in the long-term.

What do you think?

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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