- NEO is ahead of other altcoins during Asian hours.
- NEO founder interview may provide additional support.
NEO is one of the growth leaders today: the price gained over 3% since early Asian hours, while the majority of other coins are still navigating the sea of red. NEO takes the 12th place with market value $2.3B and average daily trading volume $133M. The coin recovered from the intraday low of $34.87 to trade at $37.13 at the time of writing.
While the fundamental reasons behind the upside is not readily available, NEO’s overperformance may be attributed to technical factors as the coin was badly beaten during the latest sell-off round.
CNBC interview with NEO Founder Da Hongfei is scheduled for today, July 4. The event might attract attention to the coin and support the prices.
NEO technical picture
On the downside, the local support is produced by 100-SMA (4-hour chart) at $33.70, followed by $31.65 (50-SMA) and $30.00, which is the psychologically inportant level. On the upside, Tuesday’s high at $38.95 followed by $40.00 creates the strong resistance area. Once it is cleared, the recovery may be extended towards $40.96 (200-SMA) and the to the longer-term sloping trendline.
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