NEO On a Continual Downswing Due to Ongoin Volatility

  • NEOhas been mostly below the baseline price for most part of the previous day though the price did rise at the end of the day

NEO (NEO) is struggling to hold grounds in the ongoing bearish crypto market volatility. The bear pressure is too hard to handle for the coin with the price being on a continual downswing. However, the past one-day chart shows a little upward trend towards the end of the day with the price moving in between $6.9–$7.3.

NEO Price Analysis:

NEO price has been mostly below the baseline over the past one day. From a low of $6.9040 at 1.46, the price of NEO moved higher to $7.1450 by 3.52%. The price then fell to $7.0314 at 19.45 UTC, the fall being to the tune of 1.61%. The coin got some respite from the volatility in the crypto market as the price of NEO went up at $7.2545 at 23.15 UTC, the rise being to the tune of 3.17%. The price today is $7.2492, the marginal fall being to the extent of 0.07%.

NEO Price Analysis

NEO’s steady upward momentum during the first half of the year was broken by the entry of bears during the month of July. The continual downward momentum has continued for the coin due to bears exerting tremendous pressure on its price. Analysts, however, are confident on the future potential of the coin and believe that the coin has the strength to withstand fluctuations and get back to its original price movements by the year end. Investors should grab this opportunity of the current downtrend and make investments for the long-term. Intraday traders could make hay if they can tune their investments to the volatility in the crypto market.