NEO Price Clings to Positive Momentum Before Markets Take Another Beating

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Most of the gains noted by various cryptocurrencies in the past 24 hours are being eradicated as of right now. There hasn’t been solid positive momentum in this industry all year long, as any uptrend is pushed down almost immediately. The NEO price still shows some positive momentum, although it will undoubtedly end up in the red later today as well.

NEO Price Surpasses $60 Again

It is quite interesting to see how the cryptocurrency markets evolve these days. Any positive momentum is pushed down immediately, as the cryptocurrency market cap isn’t allowed to surpass $400bn this year for more than a few hours. Even so, there is still some positive momentum to be noted these days, as the NEO price has risen by 4.28% in the past 24 hours.

While that is not the most spectacular gain in the history of cryptocurrency, it still shows there is room for growth. Due to all of the bearish pressure on the markets these past five months, it has become evident positive momentum is incredibly difficult to come by. For the NEO price, a big dip to $57 made a lot of traders anxious last week. Luckily, it seems those concerns were short-lived.

This NEO price increase pushes its value above $63 again. While that is positive, it seems to be a matter of time until the situation turns around yet again. For now, NEO holds on to a 2.46% increase over BTC in the past 24 hours, which is rather interesting to keep an eye on. Sustaining a NEO price of $60 or more will be quite challenging this week, though.

Thanks to $117.94m in 24-hour NEO trading volume, things are looking pretty decent for this particular altcoin. None of the statistics are overly impressive, but given the overall decline in cryptocurrency trading volume, something will need to change sooner rather than later. Whether or not we will see any big changes in NEO’s trading volume, remains unclear.

Binance is still leading the charge in terms of NEO trading volume. Its BTC and USDT pairs are doing well, albeit CoinEgg’s BTC market isn’t far behind. OKEx is also in the five, with its USDT and BTC pairs respectively. No fiat currency pairs in the top five for NEO can be a problem in the long run, but for now, it’s not causing too many problems just yet.

The positive NEO price momentum is quite intriguing, especially when considering how all of the other markets are evolving as of right now. Even so, it seems inevitable the NEO price will escape the bearish pressure on the cryptocurrency markets right now, which doesn’t bode well for the coming hours and days.




via The Merkle https://themerkle.com
May 21, 2018 at 06:47AM

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