The NEO cryptocurrency has recently astounded the traders. It all started when the NEO coin news and updates showed that an increase is coming and the coin jumped almost to the $16 levels. Now, we can see that NEO corrects lower from the $15.83 high that it found but even in the $14 region, the cryptocurrency is stable.
What many analysts pointed out is that the rest of the month might hit the same. The current selling pressure for NEO might stay for a while and the closing of the week might be dramatic, too.
Yesterday, the NEO coin was trading at $13.94 and in the next 1 hour and 42 minutes, the NEO coin news showed an update as the cryptocurrency hit $14.36. After that, the currency slipped marginally but recovered to $14.75 in the next 5 hours. Following this movement, the NEO price locked at the same level and surged to $15.31 to stay there only for a while after it dropped to $14.84. Then, many reported that NEO corrects and saw that the upsurge was stuck at 6.57% only.
A movement for the NEO project and its token would be good at this point. The price counters moved from $14.84 to $15.77 by 6.24%. After reaching the high, the currency price locked around the same levels for a while. From this high, however, NEO faced steep fall and the price dropped to $14.55 showcasing a huge fall of 8%. As per the analysts from Trade99, the coin might drop in the upcoming hours if the current downward momentum remains intact.
The immediate resistance level for NEO is now at $15.46 and the immediate support level is now at $13.13. The support level could get breached as NEO corrects and all of this support can be lost due to the pressure.
Anyways, NEO is in a good position and only lost 2.92% overnight as a correction from its previous levels. Now, the altcoin news and rumors show that the coin is expected to rise again and go from $14.93 to a price level above $15.
As NEO corrects, many are following the coin with similar movements. In the top 10, the biggest loser is Bitcoin SV (BSV) which managed to shed 4.36% off of its price and stabilize at $351. In the top 20, Ethereum Classic (ETC) is leading the gains with a 5% drop and a new price of $11.74 today.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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