NEO price has been through some very not pleasant weeks recently for its holders and traders. Compared to the very solid rebranding ‘launch’ when it took stage under the top-ten cryptocurrencies by market capitalization, NEO/USD had seen recently very worse days. However, now the waiting and holding could be paying off as the price is on one of the most well-cemented recovery rally since the past-regulation phase.
NEO (formerly known as Antshares) price against the US dollar is on 14.25 percent recovery surge only in the last 24-hours. The pair is trading around $33.84 as time of the press.
On Oct 2, after successfully closing above the major $30.00 mark, the price managed to climb upward to $38.20 where it met sellers as the level previously in-following to its all time high was acting as a support and now is a resistance for sellers to hit the profit-button.
However, for the moment as the price is trading solidly above the $30.00 support, there will be sessions and attempts to clear the $38.20 barrier in the near term.
The pair broke above the resistance trendline on the hourly chart of NEO/USD, which was tanking the price from any major gain at around $32.20 and in return it could hoist up the price and not let any significant fall take place. But in the worst case, supporting points will be waiting at $30.00 and above $24.00.
Its trading volume is at $65 million as it reached a stable ascending-purpose with no mass sellers tanking the price causing bigger daily trading volume. Bitfinex is leading with 32.23% paired with USD, followed by Binance and Bittrex with the NEO/USD pair. Worth mentioned gains against the BTC market is taking place with almost 8.00 increase as there is no major movement in bitcoin’s side for some days now.
Now the so known “Ethereum of China” has well cemented and showcased it is worth its name as the 8th place in the top ten list has been reserved for NEO and its becoming more famous and larger every day.
If the buyers can withstand the pressure from quick-term profit, a retest of $36.00 and followed by the important $38.00 could eventually take place.