Neo Price Prediction 2021 – Will NEO Hit $140 Soon?

Neo Price Prediction 2021 - Will NEO Hit $140 Soon?
  • Bullish NEO price prediction ranges from $40 to $140.
  • NEO bearish market price prediction for 2021 is $13.

In Neo (NEO) price prediction 2021, we use statistics, price analysis, RSI, and many other information about NEO to analyze the future trend of cryptocurrency.

NEO uses smart economic methods to realize its distributed network concept. Its main objective is to digitize assets using blockchain technology and a decentralized network of digital identities. The main goal of Neo is to become a distributed network of smart economy that is “Digital Assets + Digital Identity + Smart Contract = Smart Economy”.

Neo was developed by OnChain, a Shanghai-based R&D company, and was funded through two direct sales: the first batch sale in October 2015 sold 17.5 million NEO tokens at a price of $550,000, and the second crowdsale sold the remaining 22.5 million NEO tokens for $4.5 million.

According to CoinGecko, the NEO price is trading at $30.86 with a 24-hour trading volume of $460,451,446, at the time of writing. However, NEO has increased by 2.7% in the last 24 hours.

In addition, Neo has a circulating supply of 70,530,000 NEO. Currently, NEO trades in cryptocurrency exchanges such as  Binance, OKEx, Huobi Global, CoinTiger, and FTX.

Neo (NEO) Price Prediction 2021

NEO holds the 47th position on CoinGecko right now. NEO price prediction 2021 explained below with a weekly time frame.

NEO/USDT Price Chart Weekly Time Frame (Source: TradingView)

The above chart shows the Higher High and Higher Low patterns. This pattern is an upward trend, and the value of tokens usually increases. As shown in the figure above, NEO changed from a bearish to bullish trend at the beginning of this period. This is the result of a large number of tradings that took place during this period.

In the weekly time frame chart,  if the price of the NEO breaks the resistance level of $56, it will reach the target of $141. Or else, if the price of the NEO breakout the support level of $25 means it will fall to the next support level at $13 and $7.5. So, the trend of the NEO is based on the breakout.

NEO Support and Resistance Level

The below chart shows the support and resistance level of NEO.

NEO/USDT Support and Resistance Level (Source: TradingView)

From the above weekly time frames, it is clear the following are the resistance and support level of NEO.

  • Resistance Level 1 – $40
  • Resistance Level 2 – $56
  • Resistance Level 3 – $91
  • Resistance Level 4 – $141
  • Support Level 1 – $25
  • Support Level 2 – $13
  • Support Level 3 – $7.5
  • Support Level 4 – $5.2

The charts show that 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 $141.

Conversely, if the investors turn against the crypto, the price of NEO might plummet to almost $13, a bearish signal.

NEO Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of NEO. Generally, ADX is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend. It is often combined with directional indicators. 

NEO/USDT ADX(Source: TradingView)

The above chart shows the ADX of NEO stays above the range of 51, so it indicates a very strong trend.

Conclusion

NEO is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term NEO price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $198.38 this year. However, this only happens when NEO breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the NEO ecosystem, it could experience a great future ahead in 2021. It may reach $140 soon and it might even reach high heights, however reaching $200, if investors have planned that NEO is a good investment in 2021.

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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.

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.