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.

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.

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Hitesh Malviya

Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.