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NEO Price Swung to 15% Increase: Cryptocurrency Analysis & Prediction

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.

cryptocurrency development

Source: Coinmarketcap

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.

neo cryptocurrency forecast

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.

neo prediction

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.

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NEO Cryptocurrency Hits $100 mln Trading Volume While Targeting $40 – Analysis Prediction

NEO has come out of a monthly long declining bearish trend and now has gained momentum of increase. NEO/USD testing the $40 major mark.

NEO against the USD – NEO taking Center Stage again

NEO price since its all time high record territory of $50.88 in mid Aug, has been on a monthly long descending bearish trend by water-diving at $13.45 on Sep 15. After finding support, the value initiated its correction and recovery while with very slow step the game was changed and it broke out of the dropping trend.

neo antshares forecast

Source: Coinmarketcap

For the moment it is trading at $37.42 with 13.70 percent gain in the last 24-hours. That concludes leading 10.82 percent against the BTC market and being the only out of the top-ten largest digital cryptocrrencies by market cap with double-digits increase.

It is very unlikely that in the first attempt or session the price against the US Dollar could clear the $40 important mark as sellers are waiting to get near that point to take their profit on the short-mid term.

In the case that it fails, support are around $33.00 and just above $30.00 waiting to be retested.

neo cryptocurrency analysis

In Aug 24 there was a test to close successfully above the $40.00 mark but could not and the declining trend did take momentum. On the other hand, as the price is going up and performing very well against other altcoins and bitcoin, in the event that the psychological mark is cleared – paths will be open for more gain.

With the ban on exchanges, and the generally anti-cryptocurrency sentiment in China, some thought NEO would simply cease to exist. However, just a week after having to repay some of its initial investors, the altcoin has regained much of what it lost.

The formerly known Antshares or called “Ethereum of China” is taking form of fame and being struck by the mainstream factor for its unique idea behind it which will of great help for demand to hoist the price up.

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NEO (“Antshares”) Price Hurdle to Overcome $20 Trading Ground – Recovery on the Way Prediction

With the China regulation fear behind us and all the turmoil included, crypto prices and the community is looking for forward movement. A few weeks back when it got rebranded – NEO has taken quite the stage among the top cryptocurrencies based on market cap.

A very long and not stopping correction was experienced for NEO after its all time high, until the general market decline happened Yesterday which was followed now by a momentum of recovery while trying to battle its way through a major psychological level $20.

During the past weeks, many events have taken place to conclude with price fluctuation and swings but for NEO holders they were not so much in their favor. The volatility is very high, just yesterday the price dropped to $13.7 monthly lowest and back surging to $23.00 but not being able to close successfully above the important zone of $20 and descending lower again.

Any near term prediction would be very questionable as now so much of day trading will be effecting the total market which are affected by speculations.

The price has regained 6.31% in the last 24-hours and its trading volume is around $52 million. Its market cap is closing in to the big $1 billion target (as time of the press $966 million) – Data according to Coinmarketcap.

neo price prediction

The trading volume for the last 24-hours is above $50 million so deep-pocket whales and manipulators could be on control of the market right now. For the near term it will not be looking so optimistic as the major demand came from China and that now is dropping heavily, even that the traders based there could be looking and finding other ways to be part of the market, but until then range bound and panic selling could occur.

Binance for the moment out of the Asian exchange platforms is making any kind of benefit to the NEO market which has gone under some ICO regulations and is on the “overlooked list” by Peoples Bank of China (PBoC).

On the other side Bitfinex is having a hurdle with the market liquidity towards NEO, however this could change even that for now things are not going and rolling as they were planned to.

The NEO price will be trying and attempting to keep any kind of trend – decline or increase; and maintain it but it is of high chance it will fail as the trading volume is to low. As mentioned above we are in that stasis of the market any prediction is of the highest risk so allocation size should be kept small and play around with play money only, as time will tell.

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