Neo (NEO) has its all-time high at $196 established in 2018, however, the coin has been operating in single digits ever since the ATH was formed. Where investors had regarded Neo coin to have a price level in single digits only, the cryptocurrency surprised everyone as it shot up towards $133 in the bull run of 2021. The year-to-date returns on Neo coin are at a whopping 530%. At the time of writing, Neo crypto stands at a price level of $90. The price has gone up in the past twenty-four hours while the trading volume has decreased by 20%.
Neo (NEO) Technical Analysis
The market sentiment for Neo coin is bullish. Out of the 26 total technical indicators, fifteen are standing at a buy position with eight indications of neutral and only three signals of sell. The oscillators and moving averages are both giving out bullish signals.
A trader has identified Neo coin to be operating in an ascending channel formation. Per the trader, Neo crypto has bounced off the support – the lower boundary of the channel formation – multiple times which has it established very strong support. The trader is bullish on the cryptocurrency. Analyzing the Relative Strength Index, the trader commented that the RSI is much lower than the all-time high of 96 which means there is room to grow for Neo coin. The trader is expecting brief pullbacks inside the ascending channel but ultimately for the coin to reach towards the resistance at the upper boundary – at the price level of $2,000 – after which an upside exit from the channel is expected.
Neo coin price prediction
The trader’s $2,000 price target may be too optimistic for the coin at the moment as other estimates do not put Neo anywhere close to that level. According to the prediction of Wallet Investor, Neo will be priced at $100 in a year’s time and just at $183 in five years’ time. Trading Beasts forecasts the cryptocurrency to operate at an average price of $78 towards the end of 2021 while the price at the end of 2022 is expected to be near $100. Digital Coin Price has the most optimistic price prediction as of yet and places Neo coin at $400 in five years’ time.