Trading idea: NEO/USDT - an old favourite that may run in 2021
Many thanks to Michael Wang for reminding me to take another look at this old favourite altcoin (check out his excellent analysis under 'related ideas').
I have charted this before many times. NEO used to be a hyped project but has somewhat fallen out of favour, however what often gets forgotten is that the team are very active and continue to build and work on the project, while so many other 2017 alts have bitten the dust.
NEO 3 is coming in Q1 and I expect this to have a run this month. There was some buzz around Flamingo Finance launching on NEO back in DeFi summer, which shows you that the platform can still achieve relevance even in the current market. I prefer this over other, more 'famous' altcoins that have failed to move forward since 2017/18.
The mid 30's is a key psychological level for NEO and I can see it running up to this area, from there we'll have to see.
As a rule, I'm not rebuying many of the 2017/18 altcoins as I believe the newer projects (like DOT) to have more potential for price growth in coming years.
I have charted this before many times. NEO used to be a hyped project but has somewhat fallen out of favour, however what often gets forgotten is that the team are very active and continue to build and work on the project, while so many other 2017 alts have bitten the dust.
NEO 3 is coming in Q1 and I expect this to have a run this month. There was some buzz around Flamingo Finance launching on NEO back in DeFi summer, which shows you that the platform can still achieve relevance even in the current market. I prefer this over other, more 'famous' altcoins that have failed to move forward since 2017/18.
The mid 30's is a key psychological level for NEO and I can see it running up to this area, from there we'll have to see.
As a rule, I'm not rebuying many of the 2017/18 altcoins as I believe the newer projects (like DOT) to have more potential for price growth in coming years.
