Neo’s price manages to stay above the baseline in the current bearish crypto market as it can be seen all across the charts and we are reading more today in the latest altcoin news.
NEO had a good year before the entire crypto market took a bullish turn back in July. Since then, the price went through a continual downward swing through it managed to stay above the baseline. Neo’s price manages to move only in the range of $7.06 and $18.82 indicating that the bear pressure is still very much relevant in the crypto market.
The cryptocurrency was really badly hit by the bearish trend in the crypto market but it still managed to stay above the baseline. From the low of $7.0635 on January 13th, the price of NEO moved all the way up to $1.5619 on April 05, marking a rise of more than 90 percent. The price then took a massive bearish turn on May 9 and the price later reached a low of $8.5886, as the downward movement was to the extent of 36.68 percent. The bulls entered the crypto market again and the price was on the continual upswing since and even reached $18.8239 on June 24 as the rise started to the extent of a whopping 119.17 percent.
The bears had started becoming even more active in the crypto market and started controlling the price of NEO since it dropped to $8.8581 on September 22. The downward swing reached 52.94 percent and the current day price of NEO is standing at $6.8098 as the fall is to the extent of 23.12 percent. This trend shows that the bearish sentiment is here to stay for the short-term in the crypto market.
NEO is struggling to maintain its momentum on the ongoing bearish crypto market volatility and the bears are in full swing since the price is on a wild run with a lot of fluctuations though it has been above the baseline price. The analysts are confident that the potential that NEO has will allow for a bullish run by the end of the year. The long-term investors should also continue to hold on to their investments as the crypto market volatility is expected to finish very soon.
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