The cryptocurrency market has witnessed incredible gains in recent weeks. These gains have made various altcoins create new highs that have even been greater than what was reported in early May when bulls were at their strongest. However, this bullish sentiment has not prevented these coins from occasional dips. NEO is trading at $57.46 at the time of writing after a 4.7% dip in 24 hours.
NEO Price Analysis
The coin is currently trading on strong volatility levels that have affected the price movements of the coin. Despite failing to register massive gains in the past month, the crypto has managed to create new monthly highs attributed to the ongoing market support.
The coin has dipped in the past 24 hours. However, this dip has not erased the coin’s monthly gains, given that in the past month, the coin has gained by around 85%. If the current dip continues, the lower support level for the coin will be at $54. If buyers fail to jump in, we could see the token dipping to below $50, triggering traders to jump in and accumulate more tokens during the dip.
On the other hand, we could also see the token picking up the uptrend again, and the coin could go upwards to retest the $62 resistance level. If it manages to reach this level, bulls could propel it towards new monthly highs.
The current chief executive of the Neo blockchain is also the founder of Poly network. After the Poly network hack, various activities on the blockchain stopped, but now the coin has resumed its normal operations.
The Early Bird migration to Neo N3 from Neo Legacy has resumed after being disrupted by the hack. Those who migrate tokens will have a chance to participate in N3 governance. This will boost the whole user experience of the Neo blockchain.
Where to Buy NEO
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