MarketPredictionPrice Analysis

Neo Price Prediction 2021 – Will NEO Hit $300 Soon?

  • Bullish NEO price prediction ranges from $69 to $199.
  • NEO price might also reach $300 soon.
  • NEO bearish market price prediction for 2021 is $5.05.

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 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 $709,698,907, according to CoinGecko. The price of NEO has increased by 3.69% 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, Huobi Global, OKEx, CoinTiger, and FTX. Now, let’s proceed to the next part of this NEO price prediction for 2021.

NEO Showing Falling Wedge Pattern

Currently, Neo holds 34th place on CoinGecko. But will the latest upgrades, development, 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.

NEO/USDT chart showing Falling Wedge pattern
NEO/USDT chart showing Falling Wedge pattern (Source: TradingView)

In the chart above, which is set in a daily time frame, we can see the Falling Wedge Pattern, which is a bullish signal. In ideal cases, this immediately leads to a price breakout. More so, the falling wedges slopes down and have a bullish bias.

However, this bullish bias cannot be analysed until a resistance breakout takes place. As a continuation pattern, the falling wedge will slope down even more, but the slope will be against the predominant uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend.

NEO Price Prediction 2021

The chart below shows that Neo has performed great over the past few days. Moreover, if this trend continues, NEO might run along with the bulls, overtaking its $199 resistance level and climb higher.

NEO/USDT Price Prediction
NEO/USDT Price Prediction (Source: TradingView)

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 plummet to almost $5.05, 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 $198.38 this year. However, that will only happen if it breaks many previous psychological resistances.

As shown above, at the beginning of this month, NEO turned from its bull to bear trend. This happens as the result of the high trade volume that occured in that period.

NEO RSI, MA, and EMA

Let us also look at the Relative Strength Index (RSI), Simple Moving Average (SMA), and the Exponential Moving Average (EMA) of NEO.

NEO/USDT RSI
NEO/USDT RSI (Source: TradingView)

The Relative Strength Index (RSI) is above 39, which means that NEO is in a nearly oversold 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.

NEO/USDT MA and EMA
NEO/USDT MA and EMA (Source: TradingView)

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.

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 $199. As said above, it may even reach $300 if investors have decided that NEO is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

How to Buy NEO Token?

Users can obtain NEO tokens by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global,

Will NEO Surpass its Current ATH?

NEO is a good investment in 2021. However, NEO has a high possibility of surpassing its current ATH at about $196.85 this year.

Can NEO reach $300 soon?

Yes, it’s very much possible that NEO might reach $300 in the near future as per the current bullish trend.

Is Neo worth buying 2021?

Yes, Neo is one of the best altcoins to Invest in 2021.

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.

Alyssa Wiselin

Crypto trading has enticed Alyssa Wiselin to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

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