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- 1 Neo (NEO) witnessed an upthrust of nearly 8% In Intraday On Thursday.
- 2 Neo crypto projects an upward trajectory after breaking out of a two-month correction.
Neo price is trading on a softer note near the round level of $13. The daily chart shows a pause of the continuous gain in the last couple of sessions. NEO surpassed and sustained above the 50-Day EMA on the daily chart.
The NEO price registered a gain of nearly 12% after breaking above the 50-Day EMA in the last 5 sessions. It signifies that a new bullish wave has started and the crypto may resume its journey upwards.
Yesterday, the crypto noted a price surge of nearly 8%. However, the bulls could not continue with the same momentum today as a pause in the buying pressure was observed on the chart. However, the buyers may make a comeback in the evening session and establish their presence near the highs.
At the time of writing, the crypto trades at $13.04 with a swift intraday loss of 0.25%. The volume to market cap ratio is 14.33% suggesting high volatility in the crypto. As per the data obtained from CoinMarketCap, it has a live market capitalization of $920.98 Million.
Neo Crypto Trend Analysis
The trend outlook shows that NEO crypto has broken out of its correction phase and extended moves on the upper side. The bulls are in the winning position right now and they might continue to dominate the overall trend.
Currently, $15 is the next major hurdle for buyers on the upper side. Once surpassed, the crypto is expected to make its way to the $17 and $20 levels.
The $15 level has been tested multiple times indicating the resistance might have turned weaker and the buyers may easily conquer the level to form a new swing high.
Neo Crypto Technical Outlook
NEO rebounded from the 200-Day EMA and surpassed the 50-Day EMA, confirming the positive outlook. The MACD line and signal line are showing a bullish crossover and divergence, suggesting that the price is gaining momentum.
Neo Price Prediction For February 2024
If the bullish momentum continues, the crypto may achieve a high of $15 by the month end, suggesting an upside potential of 14.10% from the current market price. However, the bearish view of analysts expects the price to sink below the 50-Day EMA after which the downside level of $10 may be targeted by the month-end.
Neo Price Prediction for 2024
The price forecast for 2024 shows that the Neo crypto may advance to a high of $23.54 by the end of 2024. The less optimistic analysts estimate a price target of $18.24 by the end of the year.
Neo Price Prediction for 2025
As per the most positive view of our analysts, the Neo cryptocurrency may claim a high of $35 level, suggesting an upside potential of 177.27% by 2025. The pessimistic view is that the price could reach $25.45 by the end of the financial year 2025.
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
