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Neo price analysis: NEO/USD drops by 4.30%

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  • NEO/USD has been trending horizontally in <$1 range.
  • The MACD indicator shows a reversal of bullish momentum.

NEO/USD fell from $11.16 to $10.70, charting a 4.30% drop in price. For the past few days, NEO/USD has been trending horizontally in <$1 range. The hourly chart shows us that NEO/USD dropped from $11.20 to $10.47, where it found intraday support and bounced back up. The market is floating above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves.

NEO/USD daily chart

fxsoriginal

The latest price session has dropped below the support provided by the SMA 200 curve. The Moving Average Convergence/Divergence (MACD) indicates a reversal of bullish momentum, while the Elliott Oscillator has had three straight red sessions. The Relative Strength Index (RSI) indicator is trending around 60.42, next to the overbought zone.
 
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Neo

NEO Records a Moderate Fall of 3.87% Over the Last 24 Hours

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NEO coin was seen giving colossal results in the first two quarters. The downtrend in the coin started in the third quarter. The same has left its effect on the price till now. However, there is still the possibility of improvement in the upcoming days. The coin has registered a moderate fall since the opening hour. Yesterday, NEO price was seen touching a high at $12.48 and a low at $12.10.

NEO Price Analysis

Yesterday, the NEO coin started dealing at $12.40. The price fell in the later hours to $12.10 by 2.43%. Further, the price recovered in the later hours and touched $12.37. The progression marked was 2.25%. There another fall in the price that brought it down to $12.15 by 1.79%. The fall continued, and NEO coin touched $12.07. The regression marked was 0.67%. The intraday fall in the price was 2.66%. Today, the currency started the day with a heavy fall in the price. The counters changed from $12.07 to $11.91 by 1.33%. Thereafter, NEO is spotted, maintaining the level around $11.9.

NEO Price
NEO Chart By TradingView

The current price of NEO is at $11.92. The currency has already breached the immediate support level at $12.02. However, in the coming hours, the NEO price might recover and maintain its level around $12. NEO is anticipated to give flourishing results in the future. The currency is suggested for long-term investment. The same would give the desired return to the traders.

Resistance LevelPrice
R1$12.4
R2$12.63
R3$12.78
Support LevelPrice
S1$12.02
S2$11.87
S3$11.64

Source: cryptonewsz

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NEO Price Prediction 2020, 2019, 2018

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NEO is among the top 20 cryptocurrencies with the market cap of $870,682,853, and it is growing with the increasing acceptance of the assets. The market has been moving towards the altcoins instead of buying the mainstream cryptocurrencies, and this has been helpful for tokens like NEO.

Article Index

1. Introduction

2. What is NEO?

3. NEO Price Prediction by market

4. Coinnounce’s NEO Price Prediction

  • NEO Price Prediction 2020
  • NEO Price Prediction 2019
  • NEO Price Prediction 2018

5. Conclusion

Introduction

The past few months have been pretty rocky for the cryptocurrency world as the crypto market witnessed a decline in the prices. But recent changes in the markets have caused the prices of altcoins to increase. Recently, China’s president has shown interest in the blockchain community as he decided to invest $2 billion for the research and development of the blockchain industry.

This news received a warm response from the crypto industry, especially NEO, which witnessed a surge of 45% in its price. The next price increase came when PayPal decided to stop the payments for the adult entertainment giant, PornHub. This news caused a surge in the price of Verge (XVG Coin) and the price of NEO.

Currently, NEO is trading at $12.28 with strong resistance at $12.50, and immediate support can be seen near $12. In the past 24 hours, the altcoin has seen an increase of 1.52%, giving the coin 16th position in the market with a market cap of $870,682,853.

What is NEO?

Launched in 2014, NEO is an open-source, decentralized blockchain application platform that was founded by Da HongFei and Erik Zhang. Initially, it was released as Antshares, but the company rebranded the token to NEO in 2017. The platform can support up to 10,000 transactions per second, and it works on the proof-of-stake model as the core structure.

When launched, the NEO coins were given a supply limit of 100 million out of which 50 million were sold to the early investors while the remaining 50 million were locked in a small contract. From these tokens, every year, 15 million tokens are released, which are used by the development team of the NEO platform for funding long term goals of projects. The core of NEO works around tools that allow developers to work with smart contracts efficiently on the NEO blockchain.

Note: NEO Foundation has two operational units that are funded by them, and these are NEO Global Development (NGD) and NEO Global Capital (NGC).

NEO Price Prediction by market:

1. Being Crypto

This crypto platform has predicted that the price of NEO might reach $120 by the end of 2019, and for the next year, i.e., 2020, the price could reach the level of $200.

2. Smartereum

Smartereum is another crypto price prediction platform that has given a long term prediction of the coming five years. According to them, the price can reach $1275 in the next five years.

3. Crypto Ground

Crypto Ground predicts that the price of NEO could reach $195.352 in the next five years. This prediction sounds realistic as compared to others because of its range.

4. Coin Fan

Coin Fan has predicted that the price of NEO can reach $200 by the year 2020, and it could be the highest price it’ll ever reach.

5. Wallet Investor

Wallet Investor has been optimistic about the price prediction as they believe that the price could reach $48.458 by the year 2020, and in the next five years, the price might reach $190.227.

Coinnounce’s NEO Price Prediction

Predicting the accurate price for a cryptocurrency is not possible due to the volatility of the market, and these predictions are made based on the past trends and the market response and trading volume of the token.

NEO Price Prediction 2020

The past few months have been slightly bullish for the crypto market as the assets struggle to gain a rise while continuously fighting the bearish pull from the market.

The price has seen a slight increase for NEO amid the blockchain support and increased altcoin acceptance by the crypto market. It is predicted that the price for NEO can reach $25-$30 by the mid of 2020 and further reach $50 by the end of the year.

Note: In March 2018, the parent company of NEO, Onchain, released 1 Ontology token (ONT) for every 5 NEO tokens that a user had in their wallet.

NEO Price Prediction 2019

With the price at its ATL, it was predicted that the price would witness a rise, and the market can expect the price to reach the level of $35-$40 by the end of the year. However, the bullish predictions were failed by the token.

The price did witness a surge in the third quarter, but it was much lower than the expectations of the community. The price predicted for the year 2019 is that NEO could reach a price of $20 by the end of the year, according to our analysts.

NEO Price Prediction 2018

2018 was the year for the crypto market, where every cryptocurrency and altcoin entered the market with a highly bullish trend. Every asset was witnessing its ATH price, and the predictions were touching the sky.

NEO entered 2018 with a price of $148, and it was predicted that the price would reach $200 and beyond for the coming months. But things changed when the price started declining, and the price reached the ATL of $7.50 by the end of the year.

Note: NEO is among the well-known cryptocurrencies, and it was a part of the top 10 cryptocurrencies, as well. The asset is often referred to as ‘Chinese Ethereum.’

Conclusion

The altcoin market has seen a sudden boom in the past few months as more and more people have moved towards the acceptance of these assets. Tokens like NEO have been growing slowly, and this has helped the altcoin to be a somewhat promising option for long term investment.

Disclaimer: Coinnounce’s views are not necessarily reflected in the articles published, and they are the sole representation of the author’s opinions. Article’s information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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NEO Sees Spark Following Xi Jingping’s Comments On Blockchain

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  • Ever since the president’s speech on blockchain, NEO has surged by almost 100%
  • The Chinese government promised to put the country at the front of blockchain technology adoption.
  • Mati Greenspan, the well-known eToro Senior Market Analyst, recently spoke to CCN where he said the impact of “China’s huge push”

One of China’s most exciting blockchain projects has been seeing some positive movement ever since the nation’s President Xi Jinping announced that China would “take the leading position in the emerging field of blockchain.” 

The cryptocurrency in question is NEO.

Ever since the president’s speech on blockchain, NEO has surged by almost 100%, and it is now suggesting, it will move upward in advance.

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

Accepting Blockchain

The Chinese government promised to put the country at the very front of blockchain technology adoption, on 25th October. 

Several agencies under the control of President Xi’s administration immediately began putting that plan into practice.

Mati Greenspan, the well-known eToro Senior Market Analyst, recently spoke to CCN where he said the impact of “China’s huge push” towards blockchain is already being seen across the globe.

According to Greenspan:

“NEO is a cryptocurrency network whose main value proposition is that it is Chinese regulatory compliant. This gives it a huge advantage for any new Chinese blockchain startups.”

Another big crypto analyst, CryptoVince said to CCN:

“The 100% upward move NEO experienced is pretty much based on China’s decision to embrace blockchain technology. I wasn’t so confident that this crypto was going to stay this high for so long, but it has managed to continue its uptrend. Usually, quick upswings end in quick retracements. But, NEO has obliterated the bears and bulls are now in full control.”

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