- NEO gets a cold start of 2020. It was unaffected by the bullish market trend
- It may soon fall to the support of 8.653 USD
NEO has not shown any positive signs on the first day of 2020. It seems to have brought the struggle of 2019 to this year as well. As many of its peers have followed a moderate uptrend, it has been exempted. Over the last 24 hours, it could gather a meager 0.41% and find itself at 8.671 USD.
NEO Price Analysis
NEO coin started the day off at 8.635 USD, and over the initial 11 hours and 45 minutes, it could gather momentum to add 0.2 USD to touch 8.836 USD. This was followed by another stint of booming that took the NEO price to 8.973 USD by 17:28 UTC. This made the highest point of the day for the coin. However, traders witnessed a sudden and continuous price decline since then. By 02:33 UTC today, the NEO value has been on a downtrend. It has been dropped by 3.60% to find itself at 8.649 USD.
The current market cap stands at 614.014 million USD that has been down by a decent margin from its yesterday’s market cap of 624.197 million USD.
NEO’s both 50 days MA (8.675 USD) and 20 days MA (8.702 USD) are leading above its current price by 0.04% and 0.35%, respectively. The currency may find the next few days completely dominated by the bears. However, the medium-term seems bullish for NEO. We should expect major fireworks by the end of this quarter.