NEO: Price outlook – What to expect?

NEO: Price outlook – What to expect?

Altcoin Trade Signal
April 9, 2019 by Hitesh Malviya
2414
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
NEO Price Outlook

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 CountUSD Value
Unknown33,175425,811,553
To exchanges18,09517,946,319
From exchanges11,58921,000,455
Find more at : https://twitter.com/whale_alert

Technical Analysis

NEO/BTC Daily (Binance)
  • 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 (Binance)
  • 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 Weekly (Binance)
  • 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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