• Neo (NEO) is a governance token of an ecosystem intended to be used in the development of a smart economy. It holds the 74th position on CoinGecko right now.
• The current market status of NEO shows that its 24-hour price change is 9.2% down and its all-time high was reached on January 15, 2018 at $198.38.
• According to Neo price prediction for 2023, it might reach as high as $20 or fall as low as $5.97 depending on the trend of horizontal channel pattern which has support levels at $6.04 and resistance levels at $10.45 and $17.43
What is Neo (NEO)?
Neo (NEO) is a governance token of Neo, a blockchain ecosystem intended to be used in the development of a smart economy. This blockchain was first introduced in 2014 under the name Antshares and rebranded as Neo three years later in 2017. There are two native tokens in this blockchain – NEO and NEO GAS, which are respectively used to establish ownership and management roles as well as pay for transactions within the system.
Neo (NEO) Price Prediction 2023
Neo (NEO) holds the 74th position on CoinGecko right now with a current price of around 8 USDT per coin and 24-hour trading volume of 77 million USDT according to its current market status information from CoinGecko website. Predictions for 2023 indicate that NEO could reach up to 20 USDT or drop down to 5 USDT depending on how the horizontal channel pattern plays out with support levels at 6 USDT and resistance levels at 10 & 17 USDT respectively.
Neo’s Horizontal Channel Pattern
The chart above illustrates how NEO’s horizontal channel pattern looks like with buy/sell points marked out clearly when prices hit either end of the rectangle formation consisting equal highs & lows . Buying & selling pressure is also balanced with prevailing direction being sideways movement instead of any particular uptrend or downtrend directionality .
Support & Resistance Levels
The chart below displays the support & resistance levels for those looking to trade NEO coins during 2023 , showing key points where buyers/sellers may enter or exit their positions accordingly :
Conclusion
In conclusion , based on current market conditions alongside various technical analysis tools such as RSI , RVOL etc., our NEO price prediction for 2023 suggests that it could range between 5 -20 USDT depending on how its horizontal channel pattern moves throughout this year .