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NEO Price Predictions And Forecast For 2018

Author: Martin Moni
Martin Moni
All publications of the author

Along with other coins, the value of NEO also rallied toward the end of 2017 and peaked at just under $200 by the 16th of January this year. Three months later, the coin shed more than 75% of its value and bottomed out at about $45. This was in line with the greater coin slump that has been pounding the crypto markets so far this year. However, NEO and other coins are starting to show some signs of life, proving that the industry may be on the mend. In light of this, it may be the best time to consider an investment in NEO for several reasons. (Will Coins Recover From Their Slump In 2018?)

Technical analysis of NEO charts

Looking at the live charts for NEO, the coin seems to be at an excellent position for going long. The $81 level has proven to be a strong level of S/R. Furthermore, there has been a trendline moving downwards and that has been putting more downward pressure on NEO all through this year. Today, both of these levels have been broken through and NEO has rallied toward $83. If NEO happens to close the current daily candle above this $81 level, then the coin is bound to keep rising toward the $100 area. That is a psychological S/R level for the short-term, but we might see even greater gains as the year goes on. (These are: The Top 5 Coins To Buy In 2018)

The current forecast among market experts is that NEO might get to $355 by the end of 2018. That would be more than a 300% increase in value in under a year. Moreover, the 5-year forecast is even more optimistic with targets around $1,275, which makes this coin a very good potential investment both for the short and long terms. (Here are some: Alternative Cryptocurrencies beside Bitcoin to invest in)

Fundamental analysis of NEO

Since its creation in 2014, NEO has been an excellent performer in the crypto markets. On CoinMarketCap, it is the tenth largest coin by market capitalization at above $5 billion. Its popularity has mainly been driven by Asian markets where it is commonly referred to as the Chinese ETH. The biggest partnerships for NEO is one with Alibaba, one the largest ecommerce platforms in the world. NEO holders are able to buy things on Alibaba directly using the coin without having to convert to fiat. They have also partnered with Microsoft China, although on a smaller scale. Nevertheless, it shows that there is a lot of interest in NEO around China and other eastern countries. (Here are the: Cryptocurrency Regulations Around the World)

Apart from these partnerships, they are also working with the Chinese government with the help of OnChain. OnChain was developed by the same duo that founded NEO and is primarily used in creating blockchains public and private companies. Recently, they created a decentralized exchange called Switcheo that is now the fourth largest in the world. (What are the: 5 Tips to Choosing the Ideal Cryptocurrency Exchange?)

The verdict on NEO’s future

Given these advances in NEO over the past few months and prominent partnerships, the coin is poised for huge developments throughout 2018. Besides, the technical analysis favours further increases in value of NEO in both long and short terms. The industry consensus about a $355 expectation is therefore not too far-fetched or ambitious, and it is achievable. (Do you know: What will happen to Bitcoin in 2018?)

 

For more reasons to invest in NEO, watch this video:

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