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As always, we analyze the crypto charts to find out what the NEO price prediction for June 2021 is. As you can see from the chart below, NEO/USD has been experiencing a steady increase since its low in August 2018. The cryptocurrency has recently entered a bull market that could potentially last until June 2021. So let’s see what is the NEO USD Prediction for the coming days.
NEO (NEO) is a cryptocurrency that has been gaining a lot of attention lately. It has become one of the top 20 cryptocurrencies in the world in terms of market cap, and it is currently ranked 17th. With that being said, NEO has been priced at around $100/token for quite some time. But with the recent surge in interest in NEO, the price of NEO is on the rise and the token is now trading at $130, which is around a 35% increase in the last 24 hours.
The NEO price forecast for June of this year is $80 to $100 per unit if the market turns bullish again. NEO is trading around $59 and the intraday price range for NEO at the time of writing is $55.9 – $59.5. The price of the cryptocurrency has risen nearly 6% in the past 24 hours, and its value against the US dollar is currently up 8% over a one-week period. However, NEO’s monthly price movement is in negative territory, with the NEO/USD pair currently down 48.9%, as shown on CoinGecko.com. Despite the unimpressive outlook over the last 30 days, NEO is still up over 386% since this time last year. Based on these annual forecasts, it can be assumed that the upward trend will continue, likely leading to an increase in the price of NEO in June.
- 1 Price overviewNEO
- 2 NEO price compared to the broader crypto-currency market
- 3 NEO Price forecast for June
- 4 What events could affect the price of NEOs in June?
- 5 Will Neo go up in 2021?
On 1. In January, NEO traded at $14.28. By mid-February, the price had quadrupled to over $56, followed by a parabolic rally from the low at $35, and the price reached a new high on the 19th. April a new high of $136. The sharp decline over the next six days erased 40% of the cryptocurrency’s value, bringing the price down to around $79. However, this decline was followed by a further increase between Q5 and Q7. In May, the NEO/USD exchange rate rose more than 30% to an annual high of $146.83.
NEO’s stock price in 3 months. Source: CoinMarketCap
NEO coin has been following a bearish trend for the past two weeks since the previous week NEO/USD dropped more than 25 per cent.
An overall decline of over 76% from the high at the beginning of the year has prevented NEO from rising above $63. At the time of writing, the price of NEO has fallen nearly 70% from its all-time high of $198.38 reached on Jan. 15, 2018.
NEO price compared to the broader crypto-currency market
NEO trades with the same market outlook as most other assets in the crypto-currency market. NEO’s 6% intraday rise this morning (June 5) coincides with a similar move in most of the major altcoins, which have been suffering from widespread selling pressure lately. Data from market aggregator CoinGecko shows that Ethereum is up 8% at the time of writing, while Binance Coin is up double digits at 14%. Cardano at 8.6%, Dogecoin at 7.0%, and XRP at 6.6% are some of the impressive gains in morning trading this Saturday. While the picture may change in either direction due to the volatility of cryptocurrency prices, the momentum seems to favour a higher weekly close for most of these assets. This outlook could allow the price of NEO to make a decent move and reach our June price target of around $80 or more.
Recall that the cryptocurrency market plunged into chaos towards the end of May, largely due to the negative sentiment surrounding Elon Musk’s tweets about bitcoin. The market also came under significant downward pressure when the Chinese government announced a crackdown on cryptocurrency mining in the country. Weakening prices have wiped nearly $1.5 trillion from the total capitalization of the cryptocurrency market, which has fallen from a bull market of $2.55 trillion to $1.1 trillion. However, the metric is gaining traction and the total market value is now $1.76 trillion. NEO has a market value of $4.1 billion, and daily volume currently exceeds $614 million.
NEO Price forecast for June
NEO is aiming to break above $60 for the first time in a week, and its intraday performance follows market sentiment. There are signs of increasing momentum, which could prompt buyers to consolidate above critical support levels and move toward the short-term $80 target. The bullish bias for NEO will strengthen if the price breaks through the following resistance levels, as shown in the technical analysis below.
NEO price: Technical forecasts
The NEO/USD price chart suggests a bullish reversal for NEO in June 2021. Source: TradingView NEO formed a double top that turned negative in May. The NEO/USD is waiting for a recovery from the oversold zone, which incidentally allowed for a strong consolidation around $35 on the daily timeframe. As you can see on the chart, there is a strong possibility that the upward correction will continue above the $60 level, with targets at the 50-day moving average ($84.38) and the 50% Fibonacci retracement level at $91.08. Daily RSI and MACD indicators point to a potential buying trend. Although the RSI remains below the equilibrium level at 44.90, it shows an underlying bullish reversal trend. A similar pattern can be seen in the MACD, which shows a bullish cross. Therefore, the bulls should hold the trendline support and aim to break through the next hurdle, represented by the 23.6% Fibonacci retracement level ($61.51). This could lead to an increase in buy orders in the NEO market, and prices are expected to reach these targets in the next three weeks. If the positive trend does not lead to a weekly close above $60, a breakout of immediate support around $56 could open a new downtrend towards $35.
What events could affect the price of NEOs in June?
NEO has been compared to Ethereum for its robust smart contract functionality. It is also called the Chinese Ethereum because of its tremendous growth in China due to regulatory compliance. This means that any positive news from the Chinese government could influence the use of NEOs, which would affect their price. While no major events are planned for June, excitement is building around the planned launch of mainnet 3.0 in Q3 2021. In addition to a host of new features and improvements, NEO 3.0 makes it much easier for any developer to create and deploy decentralized applications on the platform. Investors should keep an eye on all the news that will be released in the coming weeks and the general sentiment of the cryptocurrency market. At this point, it is important to note that the price of NEO may be affected by the price trend of the largest blockchain cryptocurrency, bitcoin. Over the past year, NEO has replicated the price movement of the reference cryptocurrency. The BTC price is up +287% in the past year, while NEO is barely better at +386%. It should be noted that the above is an opinion based on the available data only. It should not be considered as direct investment advice.The NEO ecosystem is one of the most promising in the crypto world. Early 2018 the NEO community was excited to see the price of the NEO token rise (more than 4000%) from January 2018 to reach $50. As of today, the NEO token is worth ~$14. The NEO development team has been releasing new updates to the NEO platform, and the price of NEO has been steadily increasing. The NEO blockchain, unlike Ethereum, is not getting bogged down by DApps. Also, it is becoming the go-to platform for a number of Chinese companies to launch their ICOs.. Read more about neo price prediction reddit and let us know what you think.
Frequently Asked Questions
Is Neo a good investment 2021?
Neo is a Chinese cryptocurrency that was created in 2014. It is a type of digital asset for the smart contract platform. Its name stands for “New Economy” and “Ant-Fairy” in Chinese. Its goal is to create a distributed network that uses blockchain technology. Neo is a smart-contract platform distributed by the community for the community. Neo is focused on building a smart-contract platform where digital assets and value can be exchanged. When I first heard of Neo, the cryptocurrency I found most interesting was NEO, which is known as the “Chinese Ethereum” and has a similar function. NEO is a “smart economy” that will enable the intelligent transfer of digital assets in the emerging digital economy.
What is the future of neo coin?
There are many different types of Bitcoin and altcoins. Neo coin, as previously mentioned, is one of the most well-known, which has a market cap of around $1.6 billion. Neo coin is a cryptocurrency with a total supply of 100 million. The coin is ranked number eight on the market cap list, which is a bit surprising considering it has been struggling a bit lately. NEO coin (NEO) is often referred to as the “Ethereum of China”, as it is similar to Ethereum in many aspects. NEO is a cryptocurrency that is traded on all major exchanges, which is considered to be one of the lesser-known altcoins. NEO is often referred to as a “super-crypto”, which is due to its huge potential and high market cap. The cryptocurrency is trading at a price of around $83.86 USD per NEO, which means that the price is much higher than its market cap.
Will Neo go up in 2021?
NEO is a cryptocurrency and platform that enables the development of smart contracts. The NEO team aims to provide a distributed platform for the development of decentralised applications (DApps) on the NEO blockchain. When I was younger I would always dream of becoming a famous writer. Even when I was little I would daydream about being the next J.K. Rowling, or the next Salman Rushdie. But the older I got the more I learned that dreams don’t always come true. That’s why I started writing this blog. I knew that if I could write a blog I could make a lot of money. So I created a blog where I write about a lot of different things, but especially about the crypto market. I write about trends, I write about cons, and I also write about my predictions.
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