Neo (NEO), Low Volatility but Falling Sunday: Is it Time to Cash Out?

Sunday, February 20, 2022 07:11 AM | InvestorsObserver Analysts

Neo (NEO) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Sunday, the crypto has lost 5.08% to $23.68.

InvestorsObserver is giving Neo a 21 Volatility Rank. Find out what this means to you and get the rest of the rankings on Neo!

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Low Volatility

InvestorsObserver gives Neo a low volatility rank of 21, placing it in the bottom 21% of cryptos on the market.

The Volatility Gauge follows meaning that one day won't make or break its rank. NEO's low volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Neo price is in a good position going forward. With support set at $22.31 and resistance at $25.01. This positions Neo with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.