NEO Price Down By 10% - Time To Buy Or Sell? Tuesday, November 27th
NEO Is Down By 10% - Time To Buy Or Sell?
Since the market dump began nearly two weeks ago, the market has been cross. Holders are split between sellers and buyers. While some are choosing to increase their portfolio by buying more cryptocurrencies while they are arguably undervalued, others are choosing to sell and cut their losses early on. For those choosing to hold off selling and those buying, after every couple of days, they get false hopes with the market seeing a flush of green. However, it seems the bears have got a much tighter grip of the market than anyone would have imagined.
NEO/USD Price Chart, November 27th:
NEO has been one of many coins that have been suffering as the bearish wave movement sweeps the market. At the time of press, the coin is down by nearly 10%, trading for $6.99. With a market cap of $454,540,244, the coin is now ranked 18th in the market. Today’s drop marks a new year low with a $7.00 position only traceable in July of 2017. Before the mid-month drop, the coin was forecast to end the year trading above $200 but now there isn’t enough time for the coin to rally this high. The best bullish scenario only sees it hit as high as little over $50.
In the long term, NEO is one of the best coins to invest in and at the current value, it is an absolute bargain. But for traders looking to take a short-term position, the timing is terrible, the market is yet to find a bottom for most coins and with every passing day, coins continue to hit new lows.
In the coming days, though previous attempts have failed, we should see bulls consolidate and once again attempt to recover prices from this bearish mood. For NEO holders, there is an outcry for prices to find a position above the $10 position, which will help push the next bullish rally.
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