- Neo is a cryptocurrency and application platform built on a blockchain that is utilized to execute decentralized apps and smart contracts.
- Da HongFei and Erik Zhang launched the project in 2014 under the name Antshares, which they later renamed to Neo in 2017.
NEO coin’s market cap increased by 2.04%%, and it is currently at $559.267 million. The volume decreased by 18.14% in the last 24 hours. The token distribution is currently uneven, with a trade volume of $40.0278 million recorded in the previous day. NEO now holds the 66th position among 8,822 active cryptocurrencies worldwide, based on its market capitalization. The liquidity of NEO coins stands at 7.11%, reflecting the ease with which these coins can be bought or sold in the market.
The market supply of NEO Coins is currently 70.539 million. There are a total of 100 million NEO Coins in the market. The volume decreased by 36.79% in the last 24 hours. Neo users discussed why, despite China’s severe crypto crackdown, they have continued to work on the project.
“There are Neo developer communities all over the world that we are aware of. Just because one nation disagrees with their vision, they won’t abandon the project.”
Daily Technical Index of NEO Coin
The relative strength index (RSI) line is currently at 68.04, indicating a state of neutrality. It is positioned above the 50 level but below the 70 threshold, suggesting a moderate buying sentiment in the market.
The 100-day simple moving average (SMA) signals buying interest at the $7.63 price level. On the other hand, the 200-day SMA suggests selling potential at $8.75.
Conversely, the 100-day exponential moving average (EMA) points to buying activity at the current market price of $7.67. However, the 200-day EMA indicates a preference for selling, suggesting a movement towards selling at $8.36.
Technical Analysis of NEO Coin
The all-time high was made on January 15, 2018, which was around $200. As we can see in the image, the NEO coin is situated in a downtrend in the daily time frame.
Today, NEO Coin is up by 0.05%. Therefore, it has increased by $0.00171988. As we can see, the NEO coin began to move in a downtrend and it has been moving down the same pattern since November 2022.
Live Chart of NEO Coin
Conclusion
Our most recent NEO coin price forecast indicates that by October 31, 2023, the price will have increased by 3.37% and it will be at $ 8.03. Our technical indicators indicate that the market is currently neutral, while the Fear & Greed Index is currently reading 71 (Greed). Over the past 30 days, NEO has experienced 3.95% price volatility and 19/30 (63%) green days.
In one month, the NEO coin is up by 9.17%. Over the history of the NEO coin, it is down by 8.62%. Year to date it is up by 29%. The NEO coin in the last 6 months is down by 27%. In the 7-D analysis, the NEO coin was up 17.80%.
Technical Levels
- Support level- $6.89 and $21.19
- Resistance level- $27.28 and $61.150
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.