• Neo (NEO) is a blockchain ecosystem intended to be used in the development of a smart economy.
• Current market status for NEO is $8.80 with 24-hour trading volume of $77,175,382 and 24-hour price change of 9.2% down.
• Bullish Neo price prediction for 2023 is between $7.86 to $12.76 and bearish prediction is at $5.97 but it could reach up to $20 soon.
Neo (NEO) is a governance token of Neo, a blockchain ecosystem intended to be used in the development of a smart economy. This blockchain was first introduced in 2014 under the name Antshares and rebranded as Neo three years later in 2017. It has two native tokens – NEO and NEO Gas that are used to establish ownership and management roles on the blockchain respectively while also paying for transactions on the platform.
Neo (NEO) holds the 74th position on CoinGecko right now with current price being at $8.80 along with 24-hour trading volume at $77,175,382 and 24-hour price change at 9.2% down against all time high of $198.38 on January 15th 2018 respectively . A horizontal channel pattern has been laid out by analyzing this cryptocurrency which consists of at least four contact points made up by connecting two lows & highs each which provides buy & sell points accordingly when prices hit either resistance or support levels . Currently it’s within range of $942 & predicted to reach resistance levels as high as up to $$1045 &1743 respectively if pattern continues while neo may fall off upto $$604 if trend reverses .
Support & Resistance Levels indicate where traders can buy or sell depending upon current conditions prevailing in market .Chart below shows those levels against neo/USDT pair depicting clearly entry/exit points while trading this crypto currency
Relative Strength Index(RSI) indicates how strong/weak an asset might be based upon its past performance over certain period whereas Relative Volume(RVOL) measures intensity with which asset has been traded during particular period . Both these indicators are important tools helping investors predict future movements among different cryptocurrencies including NEO
In conclusion ,neo will continue its bullish momentum this year despite intermittent falls & currently lies in range between 786$ – 1276$ though bears have forecasted it going down upto 597$ however bulls have predicted its value reaching sky heights possibly even going beyond 20$. Support&Resistance levels alongwith RSI&RVOL must be taken into consideration while making predictions regarding future price movements of neo cryptocurrency