During a positive week, NEO stood above rival altcoins, registering a 10 percent gain on Friday. The altcoin managed to maintain gains in consecutive days and looks promising heading into a potential full-market recovery.
NEO Price Primed For $20
Although there has been a slight correction on the crypto market over the weekend, NEO has set its sights set on passing the $20 mark. It will be significant given that it has been a while since the altcoin surpassed this mark. Also, 2018 has not been that kind to the crypto-coin or the other cryptocurrencies for that matter. The past three months have seen the altcoin lose 49 percent of its value.
However, things seem to be slowly picking up and as of the time of writing the crypto-coin is trading just south of $19. It looks like the $20 mark should be inevitable. Many crypto bulls have predicted big things for cryptocurrencies in 2018, a prophecy that is yet to come to fruition but as we enter the final months of the year, this positive momentum may signify that the much-awaited rally could finally happen.
Crypto enthusiasts and traders seem to be excited about this positive momentum. One such individual is Crypto Canon who in a tweet notes that many altcoins show signs of a reversal. However, things seem interesting because Bitcoin looks strong and this is good especially for altcoins.
“a lot of #alts are showing signs of reversals, this has happened way too many times, and too many times it ended in further selling, but now #bitcoin is looking a lot stronger, psychologically for the crowd, bad news doesn’t seem to move it too much.#cryptotrading #crypto #neo.”
He is just one of the many crypto enthusiasts who seen to believe that NEO is on its way to crossing the $20 mark.
What’s is for sure is that depending on how the price of Bitcoin evolves over the next few hours, NEO could surpass its target.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology