- NEO/USD bulls have a hard time with $10.00 resistance.
- The ultimate support lies with $9.00.
NEO attempted a recovery from April 26 low registered at $9.30. The 19th biggest coin by market value is changing hands at $9.60 at the time of writing, down 1.3% on a day-on-day basis.
On Monday, NEO team announced that 3.0 update would be deployed on a new blockchain, requiring users to swap their tokens for the newly issued. Also, UK-based FinTech Zeux added NEO support to its digital payment wallet. The company announced that it is compatible with POS that accept Google Pay, Apple Pay and Samsung Pay.
A flow of positive fundamental news pushed NEO towards $10.36 on Monday, but the growth proved to be unsustainable. The price returned to the area below $10.00.
Looking technically, $10.00 is a strong barrier created by a confluence of SMA50 (4-hour), the upper line of 4-hour Bollinger Band and the sloping trendline from April 5 high. Once it is out of the way, the upside momentum might gain traction with the next focus on $10.55 (SMA100) and $11.00.
On the downside, keep an eye on $9.00 handle, as a move below will trigger new sell orders and take the price towards $8.64 (March 26 low).
NEO/USD, 4-hour chart
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