NEO And USD Currency Pairing In The News

By | August 15, 2018

NEO And USD Currency Pairing In The News

Neo price has a firm support base around $30.00 and it has been moving higher as compared to the US dollar prices. There is a ceiling resistance of Neo and USD around $34 which needs to be recovered for further upward movement.

As per current trends, Neo price has been on the rise and is currently holding well at $32 against US dollar. There is however a bearish trend in place that brings in a resistance as soon as $34.40 is reached. This currency pair needs to clear this level and move towards $40.00.

If the chart analysis reports are seen in the month of July, Neo to USD price chart has been high and a lot of interest was generated around $30. This pair then moved upwards and even traded near the resistance levels. The chart then suggested that price gained momentum after having a low around $30.31; this also broke the retracement level when the last drop had happened from the high figure of $41.07.

At one point there was a trend line plateauing at $32.80. This was on a two hour chart for this pair of currencies. The pair then overcame that trend line to reach the next level of resistance at $34.40. If a break can be achieved from the resistance level of $34.40 then there would be more gains to find for this currency exchange pair. If the $35.00 level is crossed investors can expect gains to come when they inch towards $40.00. However, there is a flip side to it as well. Neo buyers need to show adequate interest to get the price above this plateau level. There can be a downside to that as well where the previous resistance levels are seen as points of caution and buyers or investors would be cautious as the price hovers around $34.40.

The NEO crypto currency based trades are increasing in popularity. It has become part of COSS exchange that is based out of Singapore. It also works as a wallet for crypto currencies and can support different tokens; this exchange also acts as a platform for buying as well as selling virtual currencies. There are several helpful features included such as fiat gateways, promotion of trading campaigns, launches of token sales, widget for market capitalization as well as a merchant portal for the different companies to use where they can accept payment in virtual currencies.

Neo listing on this exchange took place in 20th July. Different currency pairs have become available for trading on this platform such as NEO/BTC, NEO/COSS, NEO/ETH, NEO/USD and others. With NEO listed on this platform, it would clear way for new projects that can be part of the NEO block chain. Hence trading opportunities would be more for customers in the future as a result of this listing. NEO is a crypto currency that works similar to Ethereum; it would allow companies to use NEO in creating applications that would use the NEO network in a smart economic framework.

Photo via Shutterstock.

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Published at Wed, 15 Aug 2018 17:00:43 -0400

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