NEO, as one of Ethereum’s competitors, due to the fact that these two platforms are working on similar areas of expertise, specialized in deploying Dapps, didn’t show much positive movement during the course of the last two months. Even though the majority of currencies were doing pretty well in the last 30 days, despite the last week’s massive trading in the red zone, NEO didn’t show the expected progress in the market not even in April, which was a month marked in a sign of rebounding. We are interested, due to this case, in analyzing, how far NEO is from breaking the value of 100$ per one unit once again. So, let’s see how well NEO has been doing for the past two months.
NEO is Extensively Trading in the Red
The fact that NEO is trading in the red wouldn’t be alarming in case NEO kept up with the pace of growth it acquired at the end of April when its rebound successfully lead this currency close to the value of 100$. On April 30th, NEO has been traded at the price of around 94$, seemingly promising to go past and beyond the price of 100$ per one unit.
That didn’t happen as May came knocking on the doors, leading the majority of currencies into a period that has been going on for more than seven days and where a great portion of currencies are going down with the already adopted market trend of trading in the red against the dollar.
While top currencies have mostly managed to collect at least 50% of rises in the course of the last 30 days, while NEO is only showing gains of a bit over 9% in the course of the last month, which tells us a lot about the current state of this crypto when it comes to the interest the investors have in NEO as a currency.
In addition to collecting such only 9.1% of rises against the dollar in the last 30 days, as a great portion of currencies is showing gains in charts during the course of 60 days, NEO seems to have gone in the red against the dollar when observed through the course of two months.
That means that NEO has been trading in the red on the 60-day price chart, that ay losing -26% of its value against the dollar during the period of the last two months.
However, when compared with its performance on the market through the last week, as the market trend of having the majority of currencies plummeting is still on the force, NEO’s loss in the period of 60 days was unfortunately surpassed by -24% of drops against the dollar in the course of the last 7 days.
That being said, it seems that NEO is plummeting down with the latest market trend without any signs that this currency could soon get back close to the price of 100$ as it did back on April 30th, which was less than two weeks ago at the time of this writing.
Given the fact that NEO has been recently added to another exchange, this time being welcomed to the exchange market known as Robinhood (don’t have it mistaken for Cobinhood), which is an exchange market specialized in investing in crypto assets, based in the US.
That means that NEO, with this listing, got a couple of points more to its level of exposure, as it is usually the case whenever a coin gets a new listing.
Whichever the reason for having NEO dropping at such a fast rate, hopefully, this currency will be able to rebound as soon as the market recovers.
NEO and the Market
Now ranked as the 11th-best currency in the market due to the most recent case of being surpassed by TRX, NEO has been plummeting for days now, following the most recently adopted market trend.
As the majority of currencies are being traded down against the dollar, NEO is following up with this trend with no exceptions at all.
Following the most recent change in its value, this currency has dropped for -4.44% against the dollar in the period of the last 24 hours. In addition to dropping against the fiat currency, NEO is also going down against BTC.
Falling down by -1.61% against Bitcoin, NEO is trading in the red against BTC as well.
After the latest drop against the dollar, NEO can be currently traded at the price of 63.80$, which is still far from its record price of around 162$ per one unit as set back at the end of January 2018.