Sunday, November 27, 2022

NEO’s Value Drops Amidst Bear Market

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Along with most of the cryptocurrencies, NEO has faced a tremendous downfall lately and has regressed to its support zone after reaching its high of $146.83.

Along with most of the cryptocurrencies, NEO has also faced a tremendous downfall lately and has regressed to its support zone after reaching its high of $146.83.46.83.

The coin has been moving on a downcast trend since May, and though it upraised to $68.06 on the morning of September 1, it failed to lift further.

The NEO coin has constantly been moving sideways in the last three months; still, it lately crossed the support line and descended further with the conformation of bearish candles at a stretch. This proves a significant stance for the coin.

If the price continues to fall after breaking the recent low of $22.93, it may reach a minimal price position of $12.64.

Price Update

The Neo coin price has formerly fallen from $43 to $26. The RSI, at ten, was previously in its oversold zone and is currently moving at its lows. There has been an immense selling volume indicating that the bears favor the downcast movement of the coin price.

It may take the NEO price to its lows if there has been an immense selling volume indicating that the bears favor the downcast movement of the coin price.

They may take the NEO price to its lows of $12.2. In the last four weeks, the price fell from its high of $54 to its current price of $26.

Growth of NEOs is hindered because of China’s ICO ban announcement and falling hard. The fallen will not step for a while too. Hundreds of companies within China set to come out on NEO’s platform are now stuck without any funds or ways to move forward.

Without the backing of the Chinese companies, it will be very difficult to convince western companies to jump to NEO when Ethereum, IOTA, EOS, and LISK are contenders.

It is worth looking into investing in NEO. The current price is worth buying as much as possible if you have a bunch of money. NEO has many purchasers in China. NEO is an excellent investment coin and idea; it will not lose your money. NEO is superb for long-term investment.

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Jacob Yang
Jacob Yanghttps://www.cryptoconstellation.com/
Jacob Yang works at Cryptoconstellation as a writer. He has been working in finance for the past 6 years. Jacob loves sharing news about the cryptocurrency world and he, himself has invested in a few. Jacob enjoys travelling and finding the best restaurants wherever he goes.
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