Back in 2017, NEO was one of the popular choices to trade or invest. It had a massive bull run in the past. In the Current bear market, NEO had dropped 94% from its All time high price. But as the whole market is about to explode, NEO also has a fair chance to perform well in this market. Let’s discuss its fundamentals and technicals to conclude our price outlook.
Fundamental Analysis
- NEO is one of the most active projects in the ecosystem. You can read about their recent developments here.
- NEO based Project – Travala.com has become one of the most used DAPP.
NEO developer community is increasing.- NEO has become the latest interest of Whales/Market makers, Whale alerts have tracked down large movement in March.
| March | ||
| Transaction Count | USD Value | |
| Unknown | 33,175 | 425,811,553 |
| To exchanges | 18,095 | 17,946,319 |
| From exchanges | 11,589 | 21,000,455 |
Technical Analysis
- Price is moving inside a uptrend rising channel on Daily.
- Price is trading above 50,100 and 200 Daily MA
- Golden cross is formed on Daily, which is generally a bullish sign.
- MACD and Stotch RSI is positive.
- Key Support Levels: 0.001997 BTC, 0.0002361 BTC
- Key Resistance Levels: 0.002748 BTC, 0.00318 BTC, 0.0038 BTC
- NEO/BTC weekly is also looking good, Price is moving in a rising channel.
- Key support Level: 21 weekly MA
- Key resistance level: 55 Weekly MA
- NEO/USD is looking similar to NEO/BTC, Building a nice uptrend channel.
- Price is trading above 21 weekly support, 55MA is an immediate resistance to Break which is at around 25$
Conclusion
Looking at Technicals and Fundamentals, We would not be surprised if price jump above 25$ in the next two months.
Join our telegram and twitter for more updates.
Must Read EOS Price prediction: will hit 15$ by next month
Subscribe to get notified on latest posts.
