Back in 2017, NEO was one of the popular choices to trade or invest. It had a massive bull run in the past. In the Current bear market, NEO had dropped 94% from its All time high price. But as the whole market is about to explode, NEO also has a fair chance to perform well in this market. Let’s discuss its fundamentals and technicals to conclude our price outlook.

Fundamental Analysis

NEO is one of the most active projects in the ecosystem. You can read about their recent developments here.

NEO based Project – Travala.com has become one of the most used DAPP.

NEO developer community is increasing.

developer community is increasing. NEO has become the latest interest of Whales/Market makers, Whale alerts have tracked down large movement in March.

March Transaction Count USD Value Unknown 33,175 425,811,553 To exchanges 18,095 17,946,319 From exchanges 11,589 21,000,455

Technical Analysis

NEO/BTC Daily (Binance)

Price is moving inside a uptrend rising channel on Daily.

Price is trading above 50,100 and 200 Daily MA

Golden cross is formed on Daily, which is generally a bullish sign.

MACD and Stotch RSI is positive.

Key Support Levels: 0.001997 BTC, 0.0002361 BTC

Key Resistance Levels: 0.002748 BTC, 0.00318 BTC, 0.0038 BTC

NEO/BTC Weekly (Binance)

NEO/BTC weekly is also looking good, Price is moving in a rising channel.

Key support Level: 21 weekly MA

Key resistance level: 55 Weekly MA

NEO/USD Weekly (Binance)

NEO/USD is looking similar to NEO/BTC, Building a nice uptrend channel.

Price is trading above 21 weekly support, 55MA is an immediate resistance to Break which is at around 25$

Conclusion

Looking at Technicals and Fundamentals, We would not be surprised if price jump above 25$ in the next two months.

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