Price Analysis

Neo (NEO) Price Analysis: Neo Is Yet To Have A Strong Support Resistance For A Full-Blown Bullish Trend

NEO is still in a bear trend and is highly fluctuating as of now. It has tendencies to spike up, but for that, it needs very resistance support. Another factor that is contributing to this position is the turbulent and erratic nature of BTC. The trading volume of NEO is not so good, and the reported volume is 40x larger than the Real 10 volume. This indicates that NEO’s liquidity is really inflated so, long term investment may not be profitable. On the contrary, its buy support is really good. It has currently $8.9 million buy support, which indicates that many investors are willing to splurge on this crypto.

Current status:

Neo

  • Current price: 11.14 USD
  • Market cap: 724,378,707 USD
  • Market rank: 19
  • Circulating supply: 65,000,000 NEO

Price analysis and future price predictions:

The above chart shows that at present, NEO is getting traded at 11.21 USD or 0.00146932 BTC (UTC time 05:55). Its current 24h volume is worth 464,918,216 USD. The same chart shows that approx. 1 month earlier, NEO had a trading value of 9.62 USD. So, within this approx. 1 month, the value of NEO has been increased by 16.52% with 10.56 USD as a good support resistance.

On the basis of the current updates and above price analysis, we assume that NEO can be trading around 150 USD by the end of this year.

Conclusion:

It is a fact that one cannot avoid the fluctuating nature of BTC which impacts all other cryptos, but it also depends on the potentials of the cryptos based on which they can spike up to an extent. On this basis, NEO is really is promising. Moreover, its strong buy support indicates that investors have huge hopes from it. It is expected that by the end of this year, NEO can have a persistent bull trend as by then, the volatility of the market will also get reduced.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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