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  • 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