NEO Retains the Value Above $8.6; Resistance May Fall at $8.98

• The medium-term outlook of NEO seems bullish
• The next resistance may come at 8.98 USD in the coming few days

NEO has shown a marginal hike of 0.70% over the last 24 hours. Though the hike is not huge, it seems decent amidst all the volatile fluctuations in the market. The currency has shown three major price variations in this period in the range between 8.83 USD and 8.49 USD.

NEO Price Analysis

NEO coin opened the day at 8.54 USD, and over the next 14 hours and 39 minutes, it gained 3.38% value and got placed at 8.83 USD, the highest for the day. It was followed by a 3.52% decrease in the value that took the NEO price to 8.52 USD by 18:46 UTC. The last swing started at 18:46 UTC, and over the next 5 hours and 41 minutes, it gained 2.38% to be confined by 8.72 USD.

There has been a significant fall in the market cap on the last day. Between December 24 & 25, the market cap has fallen to 613.653 million USD from 619.159 million USD. It should be noted that there has been huge volatility in the market cap of NEO since December 15.

As per Neo forecast and the current momentum of the NEO coin, the next resistance is likely to come at 8.98 USD. Its medium-term outlook may get bullish. So, investors are advised not to do panic-selling.