The NEO coin price can shortly break above the $25 mark as the uptrend gains momentum after the falling channel breakout. Neo claims to be a ‘rapidly growing and developing’ system that is in the process to become the basis that will enable the next generation of the internet — a brand new economy that is where digital payments, as well as assets and identities, are brought together. Following China’s prohibition of cryptocurrency last year, the whole market for cryptocurrency fell. One of the most affected tokens was Neo, the Ethereum-like token that was originally referred to by the name of “Ethereum of China.” However, Neo’s developers claim that the company is still in good shape regardless of the China ban. Let us move ahead to read about Neo technical analysis. Past Performance of NEO NEO coin price shows a similar trend as many other coins as it breaks above the falling channel pattern in the daily chart. The coin price shows a rally of 35% in the past two weeks resulting in the breakout of $20 and possibly $25 soon. The rally shows sustenance above the $22.5 mark indicating a high likelihood of bullish continuation. NEO/USD Daily Chart NEO Technical Analysis The NEO coin price shows bullish follow-through candlestick after showing lower price rejection near the $22.5 mark. Therefore, the rally may shortly cross the $30 psychological barrier. The Ichimoku Cloud Indicator shows the price on the verge of crossing into the...
