Neo/USDT

[Adrian]

NEO celebrated the second anniversary of their mainnet launch and the market cheered the event by pushing the price higher by 5 percent in the past seven days.

The NEO/USD pair is looking weak as it is trading close to its year-to-date low of $13.60337627. There has been no visible bounce since early August, which shows a lack of buying interest. A break of the support levels will be very negative and can result in a drop to the next support at $6.47815308.

On the upside, NEO will face a stiff resistance at the 20-week EMA that is close to the horizontal resistance at $28.49944165. A break out of this level might start a new rally to $43, and above that to $60, where it might face resistance from the 50-week SMA. Above this level, the move can extend to $100.

We believe that the traders should wait for a new buy setup to form before establishing any new positions in it.

Source: https://cointelegraph.com/news/top-5-crypto-performers-overview-stellar-ripple-neo-cardano-eos