- NEO price has managed to stay above the baseline in the ongoing bearish crypto market as seen from the YTD price chart
NEO has had a good year before the crypto market took a bearish turn in July. From the month of July, the price went on a continual downward swing though it managed to stay above the baseline as seen from the YTD price chart. NEO price has been moving in the price range of $7.06–$18.82, indicating that the bear pressure is still relevant in the crypto market.
NEO to USD Price Analysis:
NEO though badly hit by the bearish trend in the crypto market has still managed to stay above the baseline. From a low of $7.0635 on Jan 13, the price of NEO moved up to $13.5619 on Apr 05, marking a rise of 92%. The price then took a bearish turn on May 09 and the price reached a low at $8.5886, the downward movement was to the extent of 36.67%. The bulls re-entered the crypto market and the price was on the continual upswing and reached $18.8239 on Jun 24, the rise being to the extent of a whopping 119.17%.
The bears had started becoming more active in the crypto market and started controlling the price of NEO and it dropped to $8.8581 on Sep 22, the downward swing was to the tune of 52.94%. The current day’s price is $6.8098, the fall being to the extent of 23.12%. The trend indicates that the bearish sentiment is here to stay for the short-term in the crypto market.
It is struggling to maintain its momentum in the ongoing bearish crypto market volatility. The bears are in full swing and the price is on a wild goose chase with lot of fluctuations though it has been above the baseline price. Analysts are, however, confident about the potential of NEO coin and predict it to have a bullish run by the year end. Long-term investors should continue to hold their investments as the crypto market volatility is expected for the short-term.