NEO Price Dips Despite Positive Long-Term Outlook

The price of NEO, that is the native token of Neo blockchain platform, has not risen by such a big amount as in the last 24 hours. Today, NEO is up to $18.55 presently while the loss is 4.65%. The sharp price decrease of a cryptocurrency is often coming after some times of relatively balanced development.

The blockchain price decline is also associated with market cap alteration, albeit, in a small fashion. NEO currently trading at the price of $13, a 4.52% decrease in marketcap which stands at $1.31bil. The trade activity has gained traction, but there is a 33.82% whooping tempter of trade volumes to $117.16m.

Picture perfect Ascending Triangle $NEOUSD #NEOCoin https://t.co/GxzpWtRsCS pic.twitter.com/zHKbp8a68O

— Tai Holdings (@TaiHoldings) February 25, 2024

Dip cause a Concern for the Indicators?

Currently, the experts indicate that the recent fall in the price of NEO is probably just a temporary this-correction. Mr.Aditya Singh who is at the same time a blockchain researcher and a member NIT Karnataka, has shared some news about the Neo platform describing, “We haven’t had any negative news on the platform or any concerning developments that have created some bad reputation.” The statement could actually be a sign of the operators getting rid of the extra profits they had accumulated after a run of economic stability.

Long-Term Potential

Although in the short term volatility is indeed an issue, the long-term potential of NEO gets highlighted by specialists. “ZebPay’s Riya Sharma pointed out that “Neo has been progressing with its smart contract technology and scalability is also improving”. “Although price volatility is an integral part of the cryptocurrency space, NEO’s solid foundation mean is important for a positive future”.

The crowd of Retail Investors has been encouraged to ditch the short run approach in favor of a well thought-out long-term one.

The unstable exchange state of cryptocurrency also reiterates the significance of adopting a long-term investment approach for retail investors. “As the Managing director of the company, I advise you not to get too discouraged by short-term price movements,” said Mr. Singh. “Get in touch with the core technology and the project’s plans, then place your NEO or other cryptocurrency investment.”