Price Analysis

NEO (NEO) Price Analysis: Ontology News Kick-Started The Bearish Trend

Ontology is reported to starts a new venture leaving NEO behind.

ONT is contemplating to establish business beyond the NEO ecosystem. Erick Pinos, U.S. Ecosystem Partner at Ontology, said that the upcoming project is currently committed to use NEO technology, has begun laying the foundations for integrations somewhere else.

Ontology is planning to develop a project in cross-chain swaps, to help the assets in moving across the blockchains. They are busy to create swaps with Ethereum (ETH) and EOS.

After the news broke, the price of NEO started dripping. Let’s have a look at the charts.

Current Price Analysis of NEO:

The chart is taken from Trading View, at 09:05:58 UTC, on 26th May 2016.

NEO price chart

Summary of Statistics:

  • The price of NEO coin is 11.47 USD.
  • The coin ranks at the 19th position on the chart.
  • The market cap of NEO on 26th May 2019 at 09:09:06 is $740,676, 762 USD.
  • The ROI of NEO coins stands at 6,219.90%.
  • A total of 65,000,000 NEO is presently circulating in the market.

The charts show a steep downfall in the price of NEO coins. After the Ontology news broke on 22nd May 2019, the price fell up to 10.73 USD. There was a slight recovery on 24th May, but again on 25th, the price could only register regression.

Presently, the coin is struggling to crawl up. After the market opened today, NEO touched the high of 11.63 USD.

Price Comparison of NEO-

At the beginning of 2019, the coin opened with a price of 7.55 USD. The current price of NEO coin is 11.36 USD. The coin has registered a good improvement in a matter of five months.

If we compare the price of last 30 days, then on 1st May 2019, NEO was dealing at 9.67 USD and now at 09:20:17 UTC on 26th May 2019, the price is at 11.40 USD. There is a progression in price by 17%.

Hence, whether for intraday investors, the prices seem disappointing, but for long term players, NEO can give positive results.

Price Prediction and Conclusion-

The current increasing awareness about cryptocurrency assets has paved the way for many investors to earn huge dividends. The companies’ ongoing and upcoming strategies also play a vital role in price prediction.

NEO has always outgrown to the expectations of analysts and the investors. If people are looking to invest in NEO for a year, then they are likely to make a good return. If the period of investment is increased to five years, then the investment can give an enormous result.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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