Source - Google

After clearing the tough supply zone, NEO is on a slow but steady climb to the top. The coin saw a 3% rise in the last 48 hours and the bulls are now eyeing up a reclaim of $100, which was last traded on March 8th.

The coin has formed higher lows and highs, moving inside an ascending channel on its 4-hour time frame. The price bounced off support but it’s hitting a ceiling at the mid-channel area of interest. If it is able to maintain these gains, the coin may soon face another test of support. However, if it manages to break past $90, it could easily move closer or even beyond the $100 level.

NEO has continued to face stiff resistance at the $80 levels and is trading at $84 as of press time. After moving above $80 on April 24th, the lack of buying and profit booking could fail to sustain the momentum. Thus go back below $80.

According to most analysts, the coin is currently trading inside a supply zone and could be drawn to the 100 mark before traders book more returns. In this case, another bounce off the resistance point is inevitable, which could lead to a larger correction for the digital currency. Additionally, there has been positive sentiments in the industry, thanks to increased regulations and a potential boost in liquidity from the institutional investors. As such, we expect the steady climb to continue.

Analysts forecast the NEO’s price at $355 by the end of the calendar year 2018. Moreover, the five-year forecast is around $1275. As such, if you are planning to invest for a long-term period, you could make significant profits from the coin. Additionally, on a five-year investment, you could still make some good return.

With the increased awareness of the coin and its asset digitization, NEO is on a slow but steady climb. And may have a lot of potential ahead.



I have been a developer for last five years working experience in different technology, apart from this I loved traveling, blogging and exploring the crypto world.

Post A Comment: