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Neo (NEO) is among the most popular names when it comes to the cryptocurrency markets. Formerly known as AntShares, ever since the ‘Neo’ branding came into effect, the currency has been showing a strong growth. Neo peaked earlier in January as it reached an all time high of $193. However, things haven’t been so good for Neo after that and the currency has been on a downward trend. However, Neo is expected to gain another $60 over the short-term.
While most cryptocurrencies have been on an upward trend, Neo hasn’t had the best of times over the past 24 hours. Neo began the day at $122 but now stands at $111. The currency is down by about 9% but this downward trend isn’t expected to last for long.
This past week has been full of several ups and downs for NEO. The currency started the week at $149 and peaked at $170. It was then affected by the market crash and Neo’s price fell to $91. It has since recovered and the current expectations are that Neo will reach a price of $170 soon. The graph below depicts this growth:

NEO Price Analysis 4 February
Technical analysis of NEO (NEO) | Image: tradingview

Neo is expected to continue the zig-zag movement. If market experts are to believed, the currency may fall to a low of $70 (as depicted in the graph by point labelled C). However, the currency is expected to continue on this trajectory and ultimately grow to a high of $170 where it will again meet with some resistance.
It is essential to trade safely. Neo traders are advised to set up a stop-loss at $60 and a target of $165. Neo has quite an advantage when compared to other cryptocurrencies – the fact that the government of China isn’t so hostile against it and that a number of major Chinese companies are adapting Neo blockchain systems! Dubbed ‘the Ethereum of China’, can 2018 be the year of Neo?
For more (NEO) Neo price updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.
 

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