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Neo Coin (NEO) Technical Analysis 2021 for Crypto Traders

In Neo Coin Technical Analysis 2021, we use past statistics, price patterns, RSI, and much other information about NEO to analyze the future movement of the cryptocurrency. 

NEO is the first open-source cryptocurrency launched in China in 2014. It supports its own cryptocurrency and allows it to develop digital assets and smart contracts. In addition to NEO tokens, NEO has one more crypto-token called GAS, which was formerly known as ANC-Antcoins. The ultimate goal is to create a smart economy that bridges digital and traditional assets.

Neo Coin (NEO) Current Market Status

According to CoinGecko, the NEO price is trading at $47.07 with a 24-hour trading volume of $628,546,479, at the time of writing. However, NEO has decreased by 16% in the last 24 hours.

Moreover, NEO has a circulating supply of 70,530,000 NEO. Currently, NEO trades in Binance, Huobi Global, OKEx, CoinTiger, and FTX.

Neo Coin Technical Analysis 2021 

The recent development and upgrades might push Neo Coin (NEO) to reach new heights. Now, let’s deep dive into the NEO technical analysis 2021. The weekly time frame chart with two views of the pattern of Neo Coin (NEO) is shown below.

NEO/USDT Price Chart
NEO/USDT Price Chart (Source: Tradingview)

Let us start the analysis with the trading volumes in 2018 and 2019. The NEO price shows a bearish trend. Then the price enters the consolidation state. Moreover, the most recent trend of NEO is bullish. Therefore, the NEO bullish price movement is likely to continue. As the current NEOUSDT exchange rate is much higher, the next support level is around $94.134.

Neo Coin (NEO) RSI, MACD, and MA

The below chart shows the Moving Average Convergence/Divergence (MACD) of NEO. Notably, the MACD (blue) stays a little bit above the signal indicator (orange line) making a bullish crossover.  This means that cryptocurrency traders can still expect more bullish days ahead. 

In contrast, if the MACD begins to move below the signal indicator and performs a bearish crossover. Then the crypto has a high possibility of reaching new lows.

NEO RSI and MACD
NEO RSI and MACD (Source: TradingView)

Now let’s look at the relative strength index (RSI) of NEO. As shown in the chart above, the RSI remains at level 38. This shows that NEO’s price is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.

NEO’s Moving Average (MA) and Exponential Moving Average (EMA) is shown in the chart below. Moreover, MA is a part of technical analysis that helps traders to recognize trends. While EMA is a type of moving average.

NEO 30-day SMA and 50-day EMA
NEO 30-day SMA and 50-day EMA (Source:TradingView)

From the beginning of 2021, it is clear that the NEO price has shown many bullish patterns. Furthermore, taking all these into account, NEO could have a competitive market in 2021.

Conclusion

With the ongoing developments and upgrades that are taking place within the NEO platform. The cryptocurrency NEO has a fantastic future ahead in this crypto market. However, it is possible to see NEO reaching new heights.

Bullish NEO price prediction 2021 is $94. As said above, it may reach great heights, however reaching $200, if investors have decided that NEO is a good investment in 2021.

FAQ

What is NEO?

NEO is a cryptocurrency and smart contract platform that supports applications written in various programming languages. The cost of implementing and excecuting smart contracts is paid with GAS.

Where can you purchase NEO?

NEO is listed on many crypto exchanges that include Binance, Huobi Global, OKEx, CoinTiger, and FTX. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.

Will NEO reach a new ATH soon?

With the ongoing developments and upgrades within the NEO platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.

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