Neo Price Prediction – Will NEO Price Hit $200 in 2021?

This Neo (NEO) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our NEO price analysis and prediction.

Among the cryptocurrencies that are spiking high this year, NEO is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, Neo has been around since 2014.

Can Neo reach $200 in 2021? We will find out shortly. But before we proceed to our Neo price prediction, let us first answer the question “What is NEO?” in this NEO price prediction 2021 article.

What is NEO?

Neo utilizes a smart economy methodology to implement its distributed network idea. More so, its main aim is to digitize assets utilizing the decentralized network of blockchain technology and digital identity.

Neo’s native token NEO reached its new ATH of $196.85 on Jan 15, 2018. Even more, since then the coin has faced many challenges.

Now that we have an idea about NEO, do you think NEO will be profitable crypto in 2021? Join me and let us see the charts in this NEO price analysis and NEO price prediction.

NEO Current Market Status

As of the time of writing this Neo price analysis, NEO trades at $49.61 with a 24-hour trading volume of $425,886,430, according to CoinGecko. The price of NEO has increased by 1.17% in the last 24 hours.

Furthermore, NEO has a current circulating supply of 70,538,831.00 NEO. Currently, the top cryptocurrency exchanges for NEO are Binance, OKEx, FTX, Huobi Global, and CoinTiger.

Now, let’s proceed to the next part of this NEO price analysis for 2021.

NEO Price Analysis 2021

Currently, Neo holds the 47th place on CoinGecko. But will the latest upgrades, developments, and changes in the NEO blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this NEO price prediction article.

Based on the chart above, NEO positions itself along with the raging bulls. Today, NEO trades at a high price of $49.61. In addition, we can see that NEO recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line.

More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

In other words, NEO is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with NEO.

Conversely, if the bulls turn against the crypto, the price of NEO might fall. In short, NEO might break out from its uptrend position and nosedive to a bearish price. Indeed, this price level is not a good picture in the eyes of the investors.

The Relative Strength Index (RSI) is close to 46.18, which means that NEO is in a nearly overbought state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of NEO.

Since the start of 2021, NEO’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, NEO has a competitive market this 2021.

NEO Price Prediction 2021

The chart below shows that Neo has performed great over the past few days. Moreover, the NEO price over 15% in the last 7 days. If this trend continues, NEO might run along with the bulls, overtaking its $122 resistance level and reach higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone NEO from its uptrend position. In simpler terms, the price of NEO might drop to almost $45.51, a bearish signal.

Meanwhile, our long-term NEO price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $196.85. However, that will only happen if it breaks many previous psychological resistances.

NEO Price Prediction 2022

If this bullish trend continues, NEO will reach $300 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $350. Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $300 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

NEO Price Prediction 2023

If Neo holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $500, making it not plummet but play consistently.

NEO Price Prediction 2024

As per the latest upgrades, developments, Neo price prediction, and new project forecasts of the platform, Neo investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of Neo in the crypto market, and it will be the best investment as the price can spike and reach around $750.

NEO Price Prediction 2025

In the next four years, NEO prices could race up to $900. However, reaching this level could not be so difficult for NEO as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that NEO has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Neo has a bright future ahead of it in 2021. With the ongoing developments happening within the NEO ecosystem, as well as in the overall crypto market, we may see NEO reach new heights.

Bullish NEO price prediction 2021 is $122. As said above, it may even reach $200 if investors have decided that NEO is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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