It has been a while since people actively discussed the NEO price. Thanks to all of the current positive momentum, that situation will come to change fairly quickly. Even though the NEO price did not hold on to the $ 90 price level, it seems the overall uptrend over the past week still remains in place. Especially now that Bitcoin and Ethereum are recovering a bit as well, things look pretty good for this altcoin.
How High can the NEO Price Really go?
As is always the case when it comes to cryptocurrency price speculation, there are no certainties. With Bitcoin suffering from a brief dip this morning, there were some concerns as to what the future would hold for most cryptocurrencies. So far, it seems the dip has been bought up again, and the uptrend will be resumed for quite some time to come. This also spells good news for the NEO price, which continues to appreciate in value as we speak.
To put this into perspective, the NEO price has attempted to reach $ 90 on multiple occasions in the past seven days. Earlier attempts were rejected and even result in a temporary dip below $ 70. Ever since that time, the uptrend has been resumed and culminated in a jump to $ 91.8. Holding on to that price level proved to be a bit too much, though, and the NEO price is now attempting to reclaim the $ 90 level in the coming hours and days.
As of right now, the NEO price sits at just under $ 88 thanks to another 12% gain over the past 24 hours. The altcoin has also gained 11.96% on Bitcoin, which is always interesting to keep an eye on. If this trend remains in place, surpassing $ 90 again shouldn’t be all that difficult. Unfortunately, the cryptocurrency markets remain volatile first and foremost, and anything can happen in this industry when people least expect it.
Thanks to $ 622.115m in 24-hour trading volume, the demand for NEO appears to be more than genuine at this stage. Cryptocurrency markets are in a good place right now, and the slow but steady uptrend is a more favorable approach compared to the madness in late 2017. While it remains unclear if the NEO price will reach a new all-time high this year, the current trend appears solid and should lead to some fireworks moving forward.
Most of the NEO trading volume originates from the Binance exchange, which represents 24.7% of all trades in the past 24 hours. Even so, Upbit has the pair with the most volume in terms of its NEO/KRW offering. Bitfinex and OKEx are also in the top five, which makes for an interesting mix of exchanges. With two fiat currency pairs in the top five, this NEO price uptrend might remain in place for some time to come.
As is always the case in the cryptocurrency world, making accurate price predictions is guesswork more often than not. Despite the current bullish momentum, there is no guarantee the NEO price will retake the $ 90 level at some point in the future. Common sense seems to indicate that will be the case, but holding onto that price level may prove to be rather challenging, for obvious reasons. For now, the positive momentum is firmly in place, but things can always turn around on a dime.