NEO [NEO] price prediction 2018: NEO fairs in a descending channel 18127
Analysis
Priyanka Babu
Jul 10, 2018 at 10:30 PM

NEO  reached the key resistance level at $40.30 on weekend but exhibited a reversal. The support area at $36.45 was breached and the price reached the green ascending trend line. NEO is facing severe buyer pressure causing breakouts at major support levels. The price continues to dip becoming one of the losers in the crypto market today.

NEO Price today

NEO currently exhibits a sinking pattern in prices. The 100 EMA line signifies a downtrend. The key resistance level is traced at $0.36. If the coin attempts to retest the $0.36 level it might resume a bullish trend and recover from the descending channel. The MACD is currently traced in the bearish zone. The digital token is currently trading at $33.77 and is losing against USD by 10.22%.

NEO [NEO] price prediction 2018: NEO fairs in a descending channel-BCFocus

NEO/BTC

BTC is fairing the bearish market and suffering a dip in prices. Currently, one NEO is equal to 0.00533 BTC. It is trading at a loss of 6.98% against BTC.

See Also: NEO token holders to receive free tokens worth $42,100,000

NEO prices over different time periods

NEO price; Last seven days

The key resistance level during the last seven days can be traced at $42.72. The prices showed a stark increase at the beginning of the week, however, was brought down by seller pressure. The reversal in trends continued and it tested the support zone of $36.70. It experienced a breakout in the support level and found new support at $37.10 but failed to hold. The prices have decreased by 5.95% over the past seven days.

NEO price; Last 30 days

One month chart of the coin indicates that there has been a gradual dip in prices. After a quick surge, the prices resumed the downtrend again. The key resistance level can be traced at $42.40. The prices dipped by 14.83% over the last 30 days.

NEO price; Last 90 days

The swing high for the last 90 days can be noted at $93.74. The price went as low as $28.15 and resumed a gradual uptrend. However, the coin displayed a reversal in trends and continued to go south. The loss experienced over the past 90 days is estimated at 32%.

NEO price prediction 2018

According to Walletinvestor, NEO price will touch $188.26 in one year. The long-term earning potential is 134.45% in one year. According to Smartereum, the price prediction for 2018 stands at $355.

According to Longforecast, the price of the digital currency will be in the range of $284-328 during May 2020 and will go up to $438-504 by December 2020. According to Cryptoupdates, the cryptocurrency can touch $900 or more by 2020. They have based their prediction on the fact that they would be able to capture the Chinese and most of the Asian market.

NEO, recent news

  • Token holders of NEO blockchain have started receiving free ONT tokens to solidify the base of the latest blockchain/distributed ledger network, Ontology. Recently, users started receiving 10 million ONT tokens that according to the last record valued $42,100,000.
  • NEO has seen a 23 percent surge in its price in the last one week, after it launched a decentralization initiative by adding its first external mainnet consensus node, City of Zion. The price of the coin shot up to as high as $48.43 on Thursday following the announcement. However, the cryptocurrency broadly consolidated its gains on Monday, dipping 3.5 percent as of 11.20 GMT.

NEO is widely considered to be China’s answer to Ethereum. It is a distributed network for the smart economy. They define a smart economy as digital assets, plus a digital identity combined with smart contracts. The coin shows great potential and the price forecasts also seem to promise returns.