Cryptocurrency EducationIndustry AnalysisNewsPrice Prediction

Can it Recover Before Weekend?

2 Mins read

Neo blockchain is a platform for creating and running decentralized applications (dApps). It is powered by “NEO” which is the native token. Users who stake NEO can vote on the network upgrades and earn GAS.

It has a fixed supply of 100 Million and it can not be divided. Whereas, GAS can be divided up to eight decimal places. Moreover, it has contracts called Neo contracts which can be written into various programming language like C# and Java. It makes it easier for developers to use their skills and tools. 

Neo contracts enables dApps to replicate real world products and services on the Neo blockchain. 

Neo Price Slumps From Recent High: Can it Recover Before Weekend?

Neo Crypto Price Technical Analysis

The technical outlook of Neo crypto in the short term demonstrates volatility over the chart. The price fell over 12% in yesterday’s session due to which the price has fallen below the 50-day EMA.

Moreover, at the time of writing, the crypto price was recovering and is up over 3% intraday. Furthermore, the long term trend is still positive which may attract the buyers at the dips.

Currently, the short term trend outlook is neutral to bearish due to which the price may retrace the support level at $10.5. Also, if the price breaks above the supply zone at $15, it may signify a bullish outlook. The price may thereafter resume with the long term trend. 

The technical indicators imply a mixed outlook about the price trend. The price fell below the 50-day and 20-day EMAs suggesting weakness in the short term. However, The NEO crypto still hovers above the 200-day EMA suggesting a positive trend in the long term.

At the time of writing, the RSI indicator was at 46.26 points whereas the SMA line was at 56.82. RSI has fallen below the mean line indicating a neutral outlook in the short term. 

Neo Price Prediction January 2024

Neo Price Slumps From Recent High: Can it Recover Before Weekend?
Source: NEO/USD by TradingView

The short term price prediction for Neo token implies a bearish to neutral outlook for January 2024. The analysts have a wide range of price targets lying between $14.89 on the positive side to $10.48 on the negative side.

Neo Price Prediction 2024

The long term trend suggests a bullish outlook due to which the NEO coin may show gains. The most optimistic forecast of the analysts hopes that the NEO crypto may advance to a high of $22.24 by 2024 end. Whereas, the pessimistic outlook suggests the crypto may rise to $17.58.

Neo Price Prediction 2025

By next year, the NEO crypto may continue to climb higher. The price may therefore advance to a high of $29.211 suggesting an upside potential of 128.49%. The pessimistic view of analysts expect the price to reach a high of $22.36.

Neo Price Prediction 2026

According to the most optimistic analysts’ projections, the NEO price could reach as high as $37.68 over the next two years. The minimum price projection made by the analysts by 2026 end is $27.69.

Neo Crypto Price Prediction 2027

The price analysis for the year 2027 shows that the NEO cryptocurrency may achieve $44.78 as the highest price. The bearish view of the analysts expects the price to reach a low of $35.67 by 2026.

Neo Crypto Price Prediction 2028

The most bullish analysts foresee a potential price of $53.88 by the year 2028. A minimum price target that the NEO crypto may achieve by 2027 is $41.19. 

Neo Crypto Price Prediction 2029

The price forecast of the Neo crypto shows that it may reach a high of $66.31 by 2029 if the most optimistic condition prevails. By 2029, the analysts’ lowest forecast for Neo is $49.20.

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.