NEO Price Analysis: 60% Rally in Six Days – What’s Next?

2024-4-12 21:00

NEO’s price is noting a multi-month high after registering the highest gains in the market in the past week.

Will this rise continue, or will the altcoin bear witness to corrections in the coming days?

NEO Bears Extend Losses

NEO’s price rise has resulted in the overall market value of the altcoin rising considerably, which will consequently lead to higher profits. This is substantiated by the Sharpe Ratio, which is currently at 2.17.

The Sharpe ratio measures the risk-adjusted return of an investment. It indicates how much excess return an investment generates per unit of volatility. Higher values are an indication of higher returns.

NEO Sharpe Ratio. Source: Messari

This is a key metric in determining whether or not an asset will drive investors towards it, and in the case of NEO, it is likely.

Read More: Neo (NEO) Price Prediction 2024/2035/2030

Furthermore, the recent developments will also keep the bears away. This is because their attempts at profiting off price corrections have not been rewarding. Liquidations have been dominated by short contracts for the past four days.

In this duration, nearly $4 million worth of liquidations were recorded, potentially discouraging bears from placing any more bearish bets.

NEO Shorts Liquidations. Source: Coinglass

Consequently, NEO’s price noted a bullish recovery.

NEO Price Prediction: Another Price Rise in Sight?

NEO’s price is trading just under $23.00 at the time of writing, potentially cementing the $22.63 level as support. This would allow the altcoin to continue with its rally and breach through the $24.22 resistance to reach $25.00.

The Average Directional Index (ADX) above the 25.0 thresholds suggests that the active uptrend is gaining strength. This means that NEO could likely keep rising over the coming days.

NEO/USDT 1-day chart. Source: TradingView

Read More: What to Expect From NEO Price After 45% Increase Last Week?

But if the $22.63 support is invalidated at any point, the bullish outlook will be invalidated, too, as NEO’s price will fall to tag the support at $20.00.

The post NEO Price Analysis: 60% Rally in Six Days – What’s Next? appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Rally (RALLY) на Currencies.ru

$ 0.0004604 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0004604 - H: $0.0004604
Капитализация $0 Rank 3603
Доступно / Всего 0 RALLY

rally neo price analysis six days sustains

Источник: beincrypto.com

rally neo → Результатов: 24


NEO, Cardano and Monero Price Prediction And Analysis For July 12th: NEO, ADA, and XMR

NEO Price Analysis (NEO/USD) During the last 24hrs, NEO/USD pair went down by 0.9%, having moved from $17.5100 to the current price rate of $17.3556.  The bearish outlook was supported by the 21 day MA that was seen gravitating above the 7 day MA that signaled a bearish rally The markets sow a sideways price […] The post NEO, Cardano and Monero Price Prediction And Analysis For July 12th: NEO, ADA, and XMR appeared first on NullTX.

2019-7-12 00:36


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Binance adds direct deposits and withdrawals for dYdX

Binance has announced its integration with the dYdX Chain mainnet. Deposits for DYDX are open, while support for withdrawals will go live once there’s sufficient volume. Binance users can now directly deposit or withdraw dYdX (DYDX) tokens.

Revolut’s new crypto exchange goes live

Revolut has launched Revolut X, a new crypto exchange platform for pro traders. The exchange will initially only be availabe to UK users. Revolut’s new crypto trading platform Revolut X is now live, the fintech company announced on Tuesday.

Visa reveals 90% of stablecoin transactions come from bots and big traders

A new Visa study finds over 90% of stablecoin transaction volumes are from bots and large-scale traders, not genuine users, suggesting stablecoins are still far from mainstream adoption. The post Visa reveals 90% of stablecoin transactions come from bots and big traders appeared first on Crypto Briefing.