NEO lost 5% on daily basis amid global sell-off. Leaked comments from Li Xiaolai add pressure. NEO has reversed a good part of the gains, losing over 7% on daily basis and 5% since the beginning of Friday. The coin moved back to the 11th place in top-10 amid global sell-off on cryptocurrency markets. While there are no clear fundamental reasons for the sell-off, however, some traders refer to a leaded audio of Li Xiaolai comments, made in a private conversation. Li is one of the Chinese crypto whales, well-known heavy-weight in the industry, rumored to have most Bitcoins in China. That’s what he said about NEO as cited by Ethereum World news “”¦NEO is also a stupid project, worthless; if you were Wang Lijie, you would have sold them at 1.5 RMB. But why did its price went up so high? Just because some significant venture capital participated in it and hyped its price. Even Da Hongfei himself is holding very little NEO”¦” Sure enough, his comments cannot be the key driver of the bearish price movement, but the opinion of a large crypto investor might increase the existing pressure. NEO technical picture On the downside, the coin moved below the long-term trendline currently at $39.45. Now it serves as a resistance, followed by $40.00 handle with 50-SMA (1-hour chart) just above. Once it is broken, the recovery may be extended towards Thursday high at $43.56 followed by $45.00. on the downside, the support is seen at $34.02 (200-SMA). NEO/USD, 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next WTI stuck in range around $ 73, US rigs data eyed FX Street 3 years NEO lost 5% on daily basis amid global sell-off. Leaked comments from Li Xiaolai add pressure. NEO has reversed a good part of the gains, losing over 7% on daily basis and 5% since the beginning of Friday. The coin moved back to the 11th place in top-10 amid global sell-off on cryptocurrency markets. While there are no clear fundamental reasons for the sell-off, however, some traders refer to a leaded audio of Li Xiaolai comments, made in a private conversation. Li is one of the Chinese crypto whales, well-known heavy-weight in the industry, rumored to have most Bitcoins… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
