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.

Thanks to a trading volume of just over $92.4m, the NEO price is able to move up in this regard. It is not the highest trading volume by any means, but it seems most cryptocurrency markets are relatively quiet right now. The year 2017 has been very bullish for all currencies, that much is evident. Things will eventually get stuck in sideways trading motion for quite some time. So far, that has not happened just yet, but it may only be a matter of time.

Most of the NEO trading volume comes from Bittrex, who are well ahead of both Bitfinex and Binance. It is worth noting Two out of three trading markets are linked to Bitcoin, whereas Bitfinex is the only place where new fiat currency is coming into NEO. That is not necessarily something to worry about right now, but it’s well worth taking into account.

Whether or not the NEO price can top $40 for an extended period of time, is anybody’s guess right now. It wouldn’t be the first time something like this happens, although the momentum eventually turns against NEO every single time. An interesting four weeks are ahead for cryptocurrency as a whole, that much is certain. A lot can change before the year is over, and no one knows what 2018 may bring for NEO and other currencies.