Categories: CryptoNews

NEO Price Surpasses $135 Again Despite Rather Slow Momentum

A lot of interesting things are happening across all cryptocurrency markets as of right now. Even though it remains to be seen if things will turn bullish or bearish again, we see a few altcoins improve upon here BTC ratio. As a result, the NEO price is moving back up a bit and now has a value of just over $135. With the Bitcoin price also rising slightly, it is evident the NEO price may head to $140 or possibly a bit higher in the days to come.

NEO Price Notes Modest Gains

Although the NEO price is not necessarily the most exciting market right now, it does note bigger gains than most other currencies in the top 10 right now. A 4.22% increase in value over a 24-hour period is nothing to get overly excited about, yet it does show big things may start to happen for altcoins in the near future. Some more activity in that department can only be considered to be a good thing, as cryptocurrency is about much more than just Bitcoin.

With this 4.22% gain in USD value, the NEO price retakes the $135 level without any real problems. Although this same price point has been reached multiple times in the past week, the NEO price never succeeded in holding onto it for very long. Its latest rejection even sent the NEO price back to $127 for a brief period. There’s some good money to be made when timing the dips and highs right, although the profits aren’t stellar by any means.

There is also a slight improvement in the NEO/BTC ratio to take note of. While this 1.85% increase in favor of the altcoin is rather minimal, it’s also partially responsible for the NEO price increase. If altcoins can go up in USD and BTC value even when the Bitcoin price is rising, things will get very interesting in the weeks to come. For now, it seems $135 will be a proverbial glass ceiling for the NEO price, as there’s a lot of pressure to keep the total cryptocurrency market cap below $500bn, by the look of things.

Related Post

With $185.39m in 24-hour trading volume, NEO is one of the more liquid altcoin markets as of right now. Although it doesn’t come close to Ethereum or XRP, it’s still a lot better than other top 15 coins can bring to the table right now. This recent slump in overall cryptocurrency trading volume has been rather worrisome, especially when considering how it also includes the South Korean trading volume again.

Speaking of South Korean exchanges, Upbit is leading the charge in terms of NEO trading volume. With its $33.89m, the platform is well ahead of Coinegg and Binance. There’s a second Binance pair in fourth position, followed by Bitfinex’s NEO/USD market. While just two fiat currency pairs in the top five is not all that great, it’s more than sufficient to keep this NEO price push going for a few more hours.  

Whether or not we will see future fireworks in the NEO price department, remains to be seen. It is certainly possible we will see some more shakeups in the coming days and weeks, but the current market volatility will spoil all profit parties sooner or later. For now, taking profits and waiting for the next dip is always a viable strategy, regardless of which currency you are trading.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

8 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

8 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

9 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

9 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

13 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

14 hours ago