- The long-term outlook is in a bullish trend.
- The 1.618 in the fibs at $19.17 is the bulls target in the long-term.
NEO/USD Long-term Trend: Bullish
Supply zone: $20.00, $30.00, $40.00
Demand zone: $2.00, $1.00, $0.50
NEO continues in the uptrend in its long-term outlook. The strong pressure on the cryptocurrency by the bulls’ comeback at the 61.8 on 18th May has kept price up with new high each week. $12.59 and $15.04 in the supply area were the highs on 20th and 30th May respectively.
The new week is started on a bullish note with today’s opening candle at $13.72 higher than last week opening price at $11.45, an indication that the bulls are more in the market.
Price is above the two EMAs that are fanned apart which suggest strength in the trend and in this case the uptrend.
The journey to 1.618 of the fib extension with price at $19.17 in the supply area is the bulls target in the long-term as the bullish momentum increase and more bullish candle open and closed above the two EMAS.
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