NEO forecast for 2020: What do the experts say? | Coin-Hero

If one delves into the area of decentralised development, the competition is hard, and there is more than Bitcoin and Ethereum, which has to fight. One of the most prominent and first, the question is NEO, an Ecosystem that allows the development of robust decentralized applications and the easy deployment of new projects. As one of the most profitable crypto-currencies in the midst of the upswing by 2017, many are looking for the Moment in which the NEO will explode again. Here we present the predictions of the NEO for the year 2020, after a series of basic, technical analysis, and expert opinions.

NEO future for 2020

The NEO is one of the most robust constructs for the development of new projects on the basis of the block chain technology. One of the most solid features is the versatility, which is given mainly by the fact that anyone can create with programming experience on the NEO-Ecosystem, a private Token, or a decentralized project. This is due to the compatibility with a large group of programming languages for the encoding of smart contracts, for example, C++, C#, and Java, among others. The Ecosystem is already home to solid projects, such as Ontology, RedPulse, Trinity or Qlink.

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In spite of this progress, the NEO is one of the cryptographic systems that are affected by the downturn in the year 2018, the strongest. The character that supports the Ecosystem, lost up to 97% of its value compared to its peak levels this year. Up to the publication of this article has not changed the Situation much, and the distance to the historical highs of 94% is still. Although in the year 2019, some crypto-currencies took advantage of the Situation to win, and had experienced the NEO is a rather insignificant increase. So the project is on the way to the final? Actually, 2020 could be the year in which the NEO comes back into the game. A few months ago, the Team started the development of a new Version of the platform; NEO 3.0. If the Plan is fulfilled, it is NEO 3.0 in the year 2020 will arrive and could make the crypto-currency back on the map.

NEOs forecasts for the year 2020: Important events, Updates and key data

In the following list, we present some of the arguments for a possible rise of the NEO for 2020. It will be a good year to buy a NEO?

  • The editor of “NEO Smart Economy”, Eric Zhang, presented a few months ago the timetable for the introduction of NEO 3.0. According to the media published data, the market is expected to see the introduction of this new Version for the second quarter of 2020.
  • This update could bring the NEO to the next level. The platform would be able to implement large-scale applications for commercial use. The innovations include the implementation of a delegated Version of the Byzantine fault tolerance (dBFT), a lower-cost model, the possibility for contracts at runtime to access the Internet, the virtual machine NeoVM, a NeoFS-storage platform and a digital identification system NeoID.
  • China’s interest in the crypto currency industry has prompted the Chinese President to urge on the official level, on support for an accelerated use of the block chain technology. As a project that has its roots in this country, this could be a very promising turn. In the last ranking the Chinese government created, and in December 2019 published crypto-coins of the NEO took 6.

Technical analysis of the NEO and possible scenarios (January 2020)

In the following analysis, we examine some of the possible scenarios for the future of the NEO in the year 2020. The analysis was carried out in January 2020, on a daily Basis. Although the Situation may change dramatically throughout the year, can be used in the Figures to identify some important points of interest. Due to the large differences we will analyze the price of NEO against the US Dollar, but also against Bitcoin. This means that two currency pairs are included (NEO/USD and NEO/BTC). This data can prove priceless, and because of the volatile nature of the NEO, they should be carefully read.

NEO/USD: Important observations and areas of interest

Technical analysis of NEO vs. US Dollar (NEOUSD) for the 17. January 2020 Bitfinex data were analyzed with the Tool trading view.

The chart shows several key indicators and levels that are to be followed:

  • If we carry out the analysis of the 1-day candles in a relatively long period of time, we can see that the NEO-path will not be in relation to the Dollar easy.
  • There is a first consolidation zone before the outbreak in November 2018, the brand will lose approximately $ 15 to support, what brings you since 2017 at record lows.
  • This consolidation zone will be the key for the future performance of the NEO. The peak is at about 21 dollars, and we can see that the NEO has already tried in mid-2009, to overcome this resistance (without great success).
  • It is very likely that the NEO will again apply in this Region of asylum, and the bullish side is a strong need to act, to overcome this wall. Otherwise, you could fall of the NEO again, and the support of 6.5 dollars to test it before he falls to the ground from 5.4 Dollar, the lowest level in more than 2 years.
  • It succeeds, however, is the marked in red to overcome the Zone could shift the Panorama of the decentralized multi-lingual development. Fibonacci marked relatively accurately, several levels of interest. One of them is about 26,5 dollars; but there is a more prominent resistance at about $ 40.
  • Despite the lack of a Blower of the NEO, and the RSI is in an overbought Zone seems to fall, what if you want to manage in the short term, a consolidation Phase, could best.

NEO/BTC: Important observations and areas of interest

Technical analysis NEO vs. Bitcoin (NEOBTC) for the 10. January, 2020. Bittrex-data will be analyzed with the trading view Tool.

This diagram shows a high level of volatility, which makes the information less clear. However, there are some observations that stand out:

  • By the end of 2019, the share price of NEO reached for Bitcoin, the valley floor and reached the lowest level since June of 2017. Although this has led to the RSI abdriftete to oversold levels, is not ruled out a withdrawal of this support from about 0,0008 BTC. If the cops don’t respond, it could fall to a dangerous level close to 0,00036 BTC.
  • However, an indicator could change the Outlook completely. We refer to the slide 50, 100, and 200-day moving averages (MA50, MA100, MA200). These curves in the past year were decisive for the conduct of NEO in the prevention of the increase. At the Moment the crypto currency has been able to overcome what is seen as a bullish Signal. However, a confirmation of the outbreak will be required to move to a more positive perspective.
  • You should confirm this, would the NEO to volatile levels with resistance near 131 KSATS (0,00131 BTC) and 267 KSATS (0,00267 BTC) find, in terms of their historical behavior just as significantly as the S/R (Support/resistance) levels. Of course, there are intermediate stages, but these can detract from the overall image.
  • The analysis loses its validity, if it is not performed in conjunction with a study of the Bitcoin Ecosystem.

Further technical Considerations and projections for NEO

  • NEO minimum amount in the last year: fell in October 2019 on 6,65 dollars. In September of the same year, the price fell compared with the BTC on 0,00083 BTC.
  • NEO-highs in the last year: In June 2019 rose he very briefly about 20 dollars. What applies to Bitcoin, so the NEO/BTC-reached Few, in March of the same year, 273 KSATS.

The analysis suggests a possible break for the NEO/BTC Pair, but this requires further confirmation and appeasement in the Bitcoin domain, what could make this scenario less likely. In relation to the Dollar, the consolidation of the wall will be the level that needs to be monitored in this year, before accurate conclusions can be drawn.

NEO-forecasts and future, in the opinion of experts

  • The YouTube channel BTC News, a NEO-forecast, with a value of almost of 1,555 USD for the month of December 2020. We consider this projection to be unlikely and unrealistic.
  • The long forecast Portal, which provides financial projections for different trading instruments, has consulted a NEO-price forecast from 13.00 USD for the end of 2020 (at the time of edition of this article). This would confirm the mentioned consolidation theory.
  • The Website Coin.the switch assumes that the introduction of NEO 3.0 will actually have a positive impact on the price in the year 2020. According to the publication, the brand could finish the year with a rally that would reach all-time highs of EUR 274.8 USD.
  • A further Portal, which is available as a Bitcoinis known, tends to be also significantly. The press release States that the new upgrade of the NEO network would drive the forecasts for the NEO in the year 2020 in the amount. Although you mention any specific values, they believe that – in connection with the BTC – the NEO the winning crypto-currency in the year 2020 will be.

What do these predictions say about the NEO in the year 2020?

This year could be a big Surprise for a project that has remained since the Transition from Antshares to the NEO in the year 2017 in the shade. The new Version 3.0 would contain features that bring the crypto to really get back into the game, and the NEO could make in a niche, the competition is tough, competitive again. If the NEO manages to be one of the pillars of a smart economy, what is your Vision, you could fast the price for your characters in the level – as was the case in the past. The Chinese government might be one of the allies, in order to achieve this, and the opinions of the experts coincide in a primarily bullish scenario for this crypto currency in the year 2020.

Our technical analysis advises, however, to caution and to adequate risk management, before the above-outlined layers react. We want to also remind you that this sign stands for the trade on certain Broker, which is a big advantage for investors who want to benefit from every step. Regardless of whether an Upward or downward trend is observed, the NEO is a crypto-currency for the most courageous, and a risk-taker most in search of higher returns.

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