NEO (NEO) Price Analysis: NEO’s Rally May Stop at 13 USD Resistance

Neo (NEO) was formerly known as Antshares. It aims to set up a smart economy with a primary focus on digital assets, digital identities, and smart contracts. It is also known as “Chinese Ethereum” as it initiated digitization of Assets in China. As China is a huge economy, the launch of NEO has helped to gain a huge number of users on its platform. It has a dual token ecosystem containing protocols for dApps and ICOs. It claims of using an algorithm called Delegated Byzantine Fault Tolerance (dBFT) which is faster than the PoW used by Ethereum and Bitcoin.

Current Statistics-

• Neo (NEO) is ranked at 17^th in the global crypto market owing to its size.
• It has an ROI (Return on Investment) of 5840.63 %.
• The current coins in circulation stand at 65,000,000 NEO.
• The current market cap as on 23^rd April at 02:09 UTC stands at 706,007,826 USD.
• The value of each coin in terms of USD and BTC are 10.86 USD and 0.00201910 BTC respectively.
• The 24 h volume at the same UTC stands at 251,145,414 USD.

Comparison-

Neo (NEO) has been subject to many variations in the market. The price has seen many abrupt growths and falls in the whole time. It was at its lowest point at 6.89 USD on February 8^th right after a steep rise. The market cap on 23^rd March was 599,668,774 USD and the value of an individual coin in terms of USD and BTC was 9.23 USD and 0.00229624 BTC respectively. The market cap has increased by 17.73 % in the last 30 days and the value of the coin has also inflated by 17.65 %.

Prediction-

According to the NEO price prediction chart, the coin is now roaming around 10 USD. After the huge gain on the 1^st week of April, the price is undergoing a correction. We predict the price to be down by a further 1 USD to 1.5 USD. After this correction, the coin is likely to gain momentum. The growth will be interrupted by resistance at 13.5 USD. The short term outlook is bearish for the next two weeks. The medium term, as well as the long term outlook, seems completely bullish. By the end of the next quarter, the price should be around 15 USD. By the end of 2019, the value is predicted to be near 25 USD.

Conclusion-

We advise the short term investors to wait for the right to secure a buying position. Long term investors will be profited by 2 times of current price if they hold their investment until the end of 2020 1^st quarter.