Neo (NEO) Price Prediction 2023 — Will Neo Hit $15 Soon?

Neo (NEO) Price Prediction 2022 — Will Neo Hit $15 Soon?
  • Bullish NEO price prediction for 2023 is $8.72 to$11.24.
  • Neo (NEO) price might also reach $15 soon.
  • Bearish NEO price prediction for 2023 is $5.97.

In Neo (NEO) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about Neo to analyze the future movement of the cryptocurrency. 

Neo (NEO) Current Market Status

Current Price $6.52
24 – Hour Trading Volume $18,159,620
24 – Hour Price Change 1.0% up
Circulating Supply 70,530,000
All – Time High $198.38 (On January 15, 2018)  
NEO Current Market Status (Source: CoinGecko)

What is Neo (NEO)?

NEO is a governance token of Neo, a blockchain ecosystem intended to be used in the development of a smart economy. This blockchain was first introduced in 2014 under the name Antshares. Three years later, in 2017, the project rebranded as Neo, its current name. There are two native tokens in the Neo blockchain ecosystem – NEO and NEO GAS. NEO is used to establish ownership and management roles in the blockchain, while NEO Gas is used to pay for blockchain transactions.  

Neo (NEO) Price Prediction 2023

Neo (NEO) holds the 74th position on CoinGecko right now. Neo price prediction 2023 is explained below with a daily time frame.

NEO /USDT Descending Triangle Pattern (Source: Tradingview)

The above chart of Neo (NEO) laid out the Descending Triangle pattern. This pattern is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern. As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, Neo (NEO) is in the range of $6.48. If the pattern continues, the price of NEO  might reach the resistance levels of  $7.46, and $9.25. If the trend reverses, then the price of NEO may fall to $5.80.

Neo (NEO) Support and Resistance Levels

The chart below shows the support and resistance levels of Neo (NEO).

NEO /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Neo (NEO).

Resistance Level 1$7.85
Resistance Level 2$10.43
Resistance Level 3$12.74
Support Level$5.97
NEO Support and Resistance Levels

The charts show that Neo (NEO) has performed a bullish trend over the past month. If this trend continues, Neo might run along with the bulls overtaking its resistance level at $11.24.

Accordingly, if the investors turn against crypto, the price of Neo (NEO) might plummet to almost  $7.71, a bearish signal.

Neo (NEO) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Neo (NEO) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of NEO lies below the cutoff line, indicating weak participants in the current trend.

Neo /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of Neo (NEO) is shown in the chart above. Notably,  Neo (NEO) price lies below 50 MA (short-term), so it is in a downtrend. Currently, Neo has entered a bearish state. Therefore, there is a possibility of a reversal trend of Neo at any time.

Meanwhile, the relative strength index (RSI) of the NEO is 44.49. This means that Neo (NEO) is nearly in an oversold state. However, this means a major price reversal of Neo may occur in the upcoming days. So, traders need to trade carefully. 

Neo (NEO) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Neo (NEO). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

Neo /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Neo (NEO). Currently, the ADX of Neo lies in the range of 46.55 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Neo (NEO). RVI measures the constant deviation of price changes over a period of time. The RVI of Neo lies below 50, indicating low volatility. In fact, the RSI of Neo (NEO) is at 44.49 thus confirming a potential sell signal.

Comparison of NEO with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Neo (NEO).

BTC Vs ETH Vs Neo  Price Comparison (Source: Tradingview)

From the above chart, we can interpret that the price changes of BTC, ETH, and NEO are moving in a similar trend. This indicates that when the price of BTC and ETH  increases or decreases, the price of NEO also increases or decreases respectively.

Neo (NEO) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Neo (NEO) between 2024 and 2030.

Neo (NEO) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses, Neo (NEO) might probably attain $20 by 2024.

Neo (NEO) Price Prediction 2025

With several upgrades in the network, Neo (NEO) might enter a bullish trajectory. If the coin grabs the attention of major investors, Neo might rally to hit $25 by 2025. 

Neo (NEO) Price Prediction 2026

If Neo (NEO) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, Neo would rally to hit $30

Neo (NEO) Price Prediction 2027

If Neo (NEO) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, Neo would rally to hit $35

Neo (NEO) Price Prediction 2028

If Neo (NEO) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, Neo would rally to hit $40

Neo (NEO) Price Prediction 2029

Neo (NEO) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, Neo would hit $45 in 2029.

Neo (NEO) Price Prediction 2030

If investors flock in and continue to place their bets on Neo (NEO), it would witness major spikes. Neo might hit $50 by 2030.

Conclusion

With continuous improvements in the Neo network, we can say that 2023 is a good year for Neo. For this reason, the bullish price prediction of Neo (NEO) in 2023 is $12.74. On the other hand, the bearish price prediction of Neo (NEO) price prediction for 2023 is $5.94.

Furthermore, with the advancements and upgrades to the Neo ecosystem, the performance of Neo would help to reach above its current all-time high (ATH) of $198.38 very soon. But, it might also reach $15 if the investors believe that Neo is a good investment in 2023.

FAQ

1. What is Neo (NEO)?

NEO is a governance token of Neo. Neo is a blockchain ecosystem designed to aid in the creation of a smart economy.

2. Where can you purchase Neo (NEO)?

Neo (NEO) has been listed on many crypto exchanges which include Binance, FMFW.io, OKX,  Upbit,  DigiFinex, P2PB2B.

3. Will Neo (NEO) reach a new ATH soon?

With the ongoing developments and upgrades within the Neo Platform, Neo has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Neo (NEO)?

On January 15, 2018, Neo (NEO) reached its new all-time high (ATH) of $198.38.

5. Is Neo (NEO) a good investment in 2023?

Neo (NEO) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Neo in the past few months, NEO is considered a good investment in 2023.

6. Can Neo (NEO) reach $15?

Neo (NEO) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Neo (NEO) will hit $15 soon.

7. What will be Neo (NEO) price by 2024?

 Neo (NEO) price is expected to reach $20 by 2024.

8. What will be Neo (NEO) price by 2025?

 Neo (NEO) price is expected to reach $25 by 2025.

9. What will be Neo (NEO) price by 2026?

 Neo (NEO) price is expected to reach $30 by 2026.

10. What will be Neo (NEO) price by 2027?

 Neo (NEO) price is expected to reach $35 by 2027.              

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

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.