NEO Rises Back of Ongoing Decentralization

NEO has continued to its see its prices edge higher after it elected its first external mainnet consensus node, City of Zion, thus kicking off the process of decentralizing the NEO network earlier this month. City of Zion is an independent group of open source developers working on the blockchain network."NEO Rises Back of Ongoing Decentralization"

In the last one week, the digital currency has gained 5.3 percent against the U.S. dollar. The coin has also found support from the broader recovery seen in the crypto market after months of bearish trends.

NEO price analysis

Key resistance level can be traced at $40. The coin has yet to breach the current resistance level found at $37.39, which is also the highest level it hit on Tuesday. The digital asset is locked in a significant trading range of $35.69-$37.88.

NEO Rises Back of Ongoing Decentralization

NEO Price Prediction 2018: NEO rises on the back of ongoing decentralization-BCFocus

The MACD indicates that the coin is currently trading in the bullish zone. The 100 EMA line, at the time of writing, exhibited an uptrend. The key support level can traced at $33.1.

As of 1323 GMT, the coin was trading 1.6 percent higher against the U.S. dollar at $36.01. In Bitcoin terms, the coin was valued at 0.00536526 BTC.

NEO price prediction

Considering current levels, experts predict the coin’s price could reach around $355 by the end of this year, according to Smartereum. The five-year forecast for the coin is around $1,275.

As long as the digital asset continues to gain traction, the price of the cryptocurrency could continue its upward trend.'NEO Rises Back of Ongoing Decentralization'

According to Cryptoupdates, the cryptocurrency can touch $900 or more by 2020. According to Longforecast, the price of the digital currency will be in the range of $284-328 by May 2020 and could go up to $438-504 by December 2020.

NEO is Still Making Subtle Gains

The NEO ecosystem is fast expanding