NEO Price Could Skyrocket by 264%, Forecasts Analyst

Kiril Nikolaev
Updated
NEO has lagged other large cryptocurrencies, and a Twitter user called Trading Room spotted three critical factors about the coin. | Source: Shutterstock
NEO has lagged other large cryptocurrencies, and a Twitter user called Trading Room spotted three critical factors about the coin. | Source: Shutterstock

By CCN Markets: Many large-cap cryptos such as Litecoin and Ethereum have soared in the last few weeks. While these cryptocurrencies have been enjoying substantial gains, others, including NEO, have not fared as well. It appears that we are not the only ones noticing how the coin dubbed the “Chinese Ethereum” has fallen behind its peers.

On June 13, a pseudonymous Twitter account named Trading Room tweeted how NEO “is the biggest laggard among frontline coins.” The Twitter post mentioned three critical factors about the cryptocurrency:

  • NEO/BTC is preparing for a big leg up soon

  • The expectation that NEO/USDT will print massive gains between 112% and 264%

  • NEO is for investors who have a mid- or long-term investment horizon.

In fact, @tradingroomapp predicted that NEO will move higher against both bitcoin and TetherUS:

The June 13 tweet also comes with a chart that clearly illustrates the logic behind the call. According to Trading Room, NEO is moving in an ascending channel on the weekly timeframe. The image also notes that NEO is a buy on dips candidate as long as it respects the uptrend line or diagonal support of the channel. On top of that, the chart image mentions that the cryptocurrency must take out the diagonal resistance to get the fireworks going.

Read the full story on CCN.com.