NEO +67.76% in 24 Hours Amid Major Price Surge

On SEP 8 2025, NEO rose by 67.76% within 24 hours to reach $6.74. This dramatic increase came after a 150.3% rise over the past seven days and a 13.48% increase in the last 30 days. Despite this short-term upward momentum, the token has declined by 5065.68% over the past year, highlighting a sharp divergence between recent gains and historical performance.

The price movement follows a technical indicator crossover, with the 50-period moving average crossing above the 200-period line, signaling a potential bullish trend. Additionally, the Relative Strength Index (RSI) moved into overbought territory, suggesting the price may consolidate or retrace in the near term. Analysts project the move is driven by renewed speculative interest and a broader shift in investor sentiment toward altcoins following recent regulatory clarity.

The surge is also aligned with on-chain activity indicating increased long-term holding. Data shows a rise in wallet balances containing more than 10,000 tokens, a sign of institutional accumulation or whale activity. This behavior suggests confidence in NEO’s long-term value, despite the year-over-year losses. The increased holding patterns contrast with typical short-term trading behaviors seen in more speculative assets.

Backtest Hypothesis

A recent backtesting strategy explored the potential of leveraging moving average crossovers and RSI signals to time the entry and exit points in NEO. The strategy is built on the premise that the 50-period moving average crossing above the 200-period line, coupled with RSI levels above 50, could serve as a robust entry signal. The exit mechanism is triggered when the RSI falls below 30 or the moving average cross turns bearish.

The backtest, applied to historical price data, demonstrated that the strategy could have captured the majority of the recent upward trend while minimizing exposure during downward periods. The results suggest that the strategy could have yielded positive returns when applied in the context of NEO’s recent volatility. However, the model assumes ideal execution and does not account for transaction costs or slippage. Analysts caution that while promising, the strategy must be tested further across diverse market conditions before being applied in live trading environments.