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While most cryptocurrencies have gone in the red over the past few hours, NEO is the only currency noting some interesting gains. More specifically, the NEO price has increased by as much as 5% over the past 24 hours, pushing the value back toward $40. This is an interesting turn of events for the NEO price, as things weren’t looking all that great earlier this week.
NEO PRICE MAKES ANOTHER RUN
Things have been somewhat quiet on the NEO price front over the past week or so. That is somewhat surprising, considering the price per NEO was very close to $40 early last week. Unfortunately, this momentum was unsustainable, and the NEO price quickly headed down again toward the $30 mark. At its lowest point, one NEO was valued at $30.17, but this created another buy opportunity for most speculators.
Ever since hitting that low, the NEO price has mounted another strong comeback. With gradual gains to take into account, the NEO price successfully reached $35 again shortly after. It is evident there is plenty of momentum to surpass $40 once again for NEO, but it will mainly depend on whether or not there is enough trading volume to keep the ball rolling.
With the NEO price now fast approaching $40 once again, it will be interesting to see if this trend will reverse again. With a solid 5% gain in USD value and a 7.91% gain over Bitcoin, things are looking very promising for this altcoin. At the same time, it is only a matter of time until the markets start to favor Bitcoin again, by the look of things. A lot can change for NEO and all other altcoins in the coming hours and days, that much is evident.