NEO Price Surpasses $8 Following Positive Rating in China

CryptoMode NEO price Rise

In the cryptocurrency world, there are a lot of people keeping track of the top currencies ranked by market cap. Those who want to try something bold, will often look at the market cap top 25 or even beyond that. As such, NEO has become a very popular currency. It is also one of the few top coins bucking the overall negative trend affecting the top markets.

NEO Price Moves up Once Again

Based on the current overall crypto market trend, it would appear there isn’t much room for growth or gains. Some currencies successfully buck this trend, which is always rather interesting to keep an eye on. In the case of NEO, a small uptrend has begun forming over the past few hours. While it may not result in massive gains in quick succession, any positive momentum can go a long way during these somewhat uncertain times.

Over the past 24 hours, the NEO price has risen by 4% in USD value. In doing so, one NEO is now valued at $8.15. That is a pretty solid value for this specific currency, as $8 has become somewhat of a stable level in recent months. On top of that, there is also a 6% gain in BTC value, as the NEO/BTC ratio currently sits at 0.00213 BTC. Solid gains across the board, at least for the time being.

On social media, there is some genuine excitement regarding the current NEO price. More specifically, it would appear the 8BTC team has given NEO a very high rating for being a valuable centralized platform. It is evident the expectations for NEO are high and more and more sources are acknowledging this project may have long-term potential.

There is also the recent Neoland auction lucky draw, which has now been concluded. Two lucky winners were chosen who will both receive a ticket to EO Devcon 2019. Attending such a prestigious event free of charge is always a valuable prize. It also shows the upcoming Devcon conference for NEO will undoubtedly attract a lot of attention moving forward.

For those who only care about the current and future NEO price movements, it seems interesting things are about to happen. An inverted head-and-shoulder pattern has formed on the NEO/USD chart in recent days, which could signal a future breakout is looming on the horizon. The current small gains show that is definitely possible, although the uptrend will be slow and steady first and foremost.

Under the current circumstances, it would seem the NEO price uptrend can be sustained for a little while. There is sufficient trading volume, as $92.05m in trades is rather impressive for this particular altcoin.  Combined with the successful push in both USD and BTC value, sustaining a price of $8 or higher shouldn’t pose too many problems. Even so, the overall market trend remains somewhat bearish, which is something to keep in mind at all times.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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