Price Analysis

Neo’s Strong Fundamentals will Push the Value for a Price Rally

  • Neo is currently traded at 9.40 USD & 0.00161296 BTC.
  • Neo seems to have recovered from the price correction phase, will rise to 13 USD.
  • The anticipated launch of Neo 3.0 will be ominous for the price movement.

Neo (NEO) is a digital ecosystem with components like digital assets, digital identities, and smart contracts. It is previously known as ‘Antshares.’ It is based in China and the big Chinese potential has helped the coin to be named as “Chinese Ethereum.” A large number of users on this platform has been profited by the ICO of Neo coin. This platform works on a dual token system – dApps and ICOs. It relies on its own algorithm – Delegated Byzantine Fault Tolerance (dBFT). This protocol is claimed to be faster than the protocols used by other major coins.

NEO coin price analysis 7 May 2019

Current Statistics

  • Neo (NEO) is ranked 19th in the global crypto world.
  • The ROI (Return on Investment) stays at 5046.62%.
  • A total of 65,000,000 NEO coins are in circulation currently.
  • The current market cap of NEO coin as on 7th May at 01:14 UTC stands at 611,058,743 USD.
  • The value of each coin stands at 9.40 USD and 0.00161296 BTC.
  • The current 24h volume at the above mentioned UTC stands at 328,815,142.

Comparison

Neo coin started the year with a humble figure of 7.55 USD. However, for a large part of this year, this coin fared well. The lowest point of NEO was on 7th February at 6.80 USD. It gained the highest after 1st April by 30% in just 6 days. The value of each NEO coin is undergoing through a price correction stage as of now. The market cap on 7th April was 837,353,385 USD, and the value of each coin was 12.88 USD. The value of each token in terms of USD has decreased by 27.01% in these 30 days.

Prediction

Neo’s current market fall is here to stay. It will now grow and face one resistance at 13 USD. We can predict the coin to reach as high as 20 USD by the end of 2019. And in the longer term, the coin will breach the 50 USD target.

Conclusion

This is the best time to buy NEO coins. Looking at the bullish trend, we advise the long term holders to wait at least until the value reached 20 USD.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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