All cryptocurrencies remain in the green for the being. That in itself is rather remarkable in its own way, especially when considering how the weekend is usually a period during which we see far more volatility. The NEO price is slowly approaching the $150 mark once again, which indicates there is strong momentum in place. Whether or not this is the beginning of a major NEO price boom, remains to be determined at this point.
NEO Price Surges a bit
It is refreshing to see all top 15 cryptocurrencies in the green on a Sunday afternoon. This doesn’t happen all that often, especially not since all markets took a massive hit in early January. We have to enjoy this positive momentum while it lasts, though, as things quickly turn around in the world of cryptocurrency right now. The NEO price is on a strong roll as we speak, as $150 is within reach right now
This uptrend followed a big dip to below $120 about a week ago. Ever since that time, the NEO price has broken the $140 resistance, although there was a small dip to $131 a few days ago. When that dip as bought by investors, the price hasn’t stopped going up slowly but surely. Slow and steady wins the race, as we don’t need more pump-and-dump schemes in the world of cryptocurrency right now.
With this current NEO price momentum in place, things look rather promising. The current NEO price was established thanks to a 7.06% increase in USD value and a 4.99% increase in the NEO/BTC ratio. Altcoins need to regain some lost ground against Bitcoin sooner or later, and it seems that is happening right now. All of these markets can and probably will look very different tomorrow evening, though. Cryptocurrency has never been more attractive to people looking to make their first investment, that much is evident.
Looking at the 24-hour trading volume, not much has changed for NEO over the past few days. There is still a rather low amount of volume, as $231m isn’t exactly spectacular right now. Then again, this has almost become the new normal for most altcoins, and NEO is no real exception in this regard. As long as the buyers outpace sellers, the NEO price will continue to rise over the coming days. Only time will tell if that is the case, though.
Upbit is still the place to be when it comes to NEO trading. Their lead over CoinEgg is rather substantial, and Binance completes the top three. It is worth noting Binance has three trading markets in the top 6, indicating there is a strong demand for this altcoin on that particular platform. Bitfinex has been “demoted’ to fifth place, even though they are the only platform bringing in fresh capital that isn’t denominated in Korean Won. Bitcoin holders are seemingly diversifying their holdings again, which is always a smart choice.
For the time being, it remains to be seen how long this positive cryptocurrency market momentum will last. The weekend has been a positive one, for a change, but there is no reason to think things will remain this way for much longer. Right now. The NEO price is heading toward $150, which should hopefully turn into a new support level. It is too early to make any accurate long-term predictions in this regard, though.