Neo Long-Term Price Analysis

Supply zone: $80.00, $90.00, $100.00

Demand zone: $50.00, $40.00, $30.00

The bears continue to dominate Neo in its long-term outlook.

The bulls never got enough momentum to push the cryptocurrency’s

price up again, after a strong bearish push that broke the critical demand zone at $70.00.

Their comeback attempt was rejected by the bears

with long bearish engulfing candles. A flag formation can

be seen in the pair and what follows is the price

being pushed down by the bears.

You can see that the 12-day EMA acted as a strong resistance for the price’s upward moves.

CHEERS.