Hey guys, Here is my TA for NEO.'The Ethereum of China', NEO has been one of the biggest names in the world of cryptocurrencies. The currency has been around for quite some time, but picked up an aggressive pace since the rebranding! Ever since Antshares became NEO, the platform took a whole new direction and a major growth rally began! NEO showed a very strong sign of growth in late 2017 and the currency still has a number of backers even at a time when NEO price is on a continuous downtrend.
Backed by a number of major Chinese firms, NEO is perhaps China's greatest contribution to the crypto-world. The currency continues to find a place in the top 10 cryptocurrencies for quite some time now. Over the past couple of weeks, most cryptocurrencies were going through a period of slowdown or negative growth. NEO too is affected by it.
In the 24 hour period, NEO price $50.70 to $46.89. The currency's market cap fell from $3.36 Billion to $3.24 Billion - a loss of $120 Million over the course of the day. NEO started the week at a price of $65 and a market cap of $4.2 Billion. Over the course of the week, NEO lost $1 Billion as it closed the week at $3.2 Billion. It has been a rough week for NEO, but it has also been a rough week for cryptocurrencies in general. NEO is yet to reach the bottom. My target for NEO is between $36-$30.
I also believe it will recover very fast. Let's hope for the best and keep an eye on the buy zone.
Backed by a number of major Chinese firms, NEO is perhaps China's greatest contribution to the crypto-world. The currency continues to find a place in the top 10 cryptocurrencies for quite some time now. Over the past couple of weeks, most cryptocurrencies were going through a period of slowdown or negative growth. NEO too is affected by it.
In the 24 hour period, NEO price $50.70 to $46.89. The currency's market cap fell from $3.36 Billion to $3.24 Billion - a loss of $120 Million over the course of the day. NEO started the week at a price of $65 and a market cap of $4.2 Billion. Over the course of the week, NEO lost $1 Billion as it closed the week at $3.2 Billion. It has been a rough week for NEO, but it has also been a rough week for cryptocurrencies in general. NEO is yet to reach the bottom. My target for NEO is between $36-$30.
I also believe it will recover very fast. Let's hope for the best and keep an eye on the buy zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.