NEO, popularly known as 'The Ethereum of China' has been a blockchain based platform which is finding huge support in the otherwise strict nation of China. The Chinese government may not be so high on cryptocurrencies at the moment, but the country has shown a green light to blockchain technology and NEO appears to be their favourite at the moment. NEO is the sixth largest cryptocurrency by market cap. Let us take a closer look at how the currency has been performing in the markets of late and where it is headed.
NEO Price Over The Past 24 Hours
NEO, over the past 24 hours has been on a downward trend, much like most of the other cryptocurrencies at the moment. Markets are going through a slow downtrend and NEO too, is suffering because of this. The currency has fallen by about 8% over the past 24 hours. NEO began the day at a price of $92 and a market cap of $6 Billion. Over the next 24 hours, the price slipped to $85 and the market cap fell to $5.5 Billion. At it's lowest point of the day, Neo's price went to $82.
NEO Price Over The Past Week
Over the past week, NEO has been witnessing a downtrend. The currency began the week at a price of $121 and peaked at $124.49. However, ti was all a downhill ride from there as NEO ended the week at $85. NEO's market cap at the beginning of the week was $7.8 Billion and the currency lost a market cap of $2.3 Billion over the week.
NEO Price Expectations
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Expected movement of NEO price | Image; Tradingview[/caption]
NEO, over the next couple of weeks is all set to face a major bull-run, which will help the currency's prices rise back to $100+ levels. However, it is best advised to set up a stop loss. As per most market experts, a safe stop loss would be at the $72 mark and if NEO falls below that, it might lead to another free-fall of the currency. However that is an unlikely scenario and NEO is poised to break out and hit the $100 mark soon.
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: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions - which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.