Today, In this Article we are reviewing one of the oldest cryptocurrency in the crypto Industry. NEO was originally founded as Antshares in 2014 by Da Hongfei and erik Zhang and was Rebranded to NEO in June, 2017. it was the one of the first platform to launch smart contracts.
What Actually Is NEO
Just Like Ethereum, and many other projects. NEO is an Open-Source Blockchain platform which is completely community driven, NEo is one of the most stable and multi feature blockchain Platform For Decentralized Application and Smart contracts. In simple Terms, NEO is meant to provide Muptiple Services Such as, smart contracts, decentralized applications, for Internet 2.0
NEO has been recently upgraded to version N3 in March 2021, which means that the N3 as known as NEO version 3.0 Brings latest improvements to the platform and stability.
Neo Fundamentals Analysis
Currently, NEO stands at position 51th according to coinmarketcap data. NEo has a market capitalization of around $3.1 billion with a fully diluted market cap of $4.4 billion dollars with a 24 hour volume of $262 million currently trading at $44.04. NEo has a circulating supply of around 70.53 million coins and maximum supply of 100 million coins.
NEO has a core developer team of 15 individuals and has multiple investors including venture capitals and individual as well, such as Block ventures, chain funder etc. its no doubt that NEO has very strong background developers and community to lead and grow NEO platform. Based on our Analysis, We would Give 5 Out of 5 Stars for the dynamics, team and community.
NEO Technical Analysis – Bullish
NEO recently made a high of around $138.40 during the month of May, while it is noted that NEO was unable to break the All time high price of Almost 200$ at its peak during the last bull run in Januany 2018. NEO price action looks strong and technical analysis clearly shows that the BUll run for NEO is not over yet. Have a look at the Detailed chart below :
As clearly shown in the chart, NEO is currently at a major support of around #5.2$ which in technical analysis clearly shows that NEO respects the price level of 35$ as a major support and as per analysis, NEO can cross 100$ in value in 2021, while the major resistance levels are at $66.5,as the projects develop and continue to grow NEO can easily break that major resistance making it way to a $100 per coin.
Relative Strength Index – Bullish
RSI levels are bullish for NEO as it is currently around 43 in upwards, which Clearly shows that there is plenty of room to grow for NEO to break major resistances and even $100 price tag.
100D and 200D Moving Averages 8 Bullish
While 200D moving average is currently at 56$, it genrally means bearish because it works as a resistance for the price to move up. meanwhile 100D moving average is bullish as it is at around 41$ which generally means that it works as a support level
NEO Price Prediction for 2021
As per our analysis of NEO, based upon the fundamentals and the technical analysis. NEO definitely has the potential to go 100$ or even go above $110 in the upcoming months.
Yes, NEO has very Good fundaments and price action and based on the analysis, NEO seems to be a good investment for mid term and long term perspective.
There are high chances of a significant price rally in NEO coin in upcoming months, While we cannot promise as the information and analysis is for educational purposes, there are high chances that price increase in 2021
Cryptocurrency markets are very high risk and reward assets. The analysis and information are just for educational purposes only, We are not financial advisor and do not provide Financial advice. viewer are advised to do their own research before investing.