China’s Ethereum skips fall: In race for leadership!

Neo (NEO), known as China’s Ethereum, ended its silence and made a sharp move higher.

Neo (NEO), known as China’s Ethereum, ended its silence and made a sharp move higher.

Neo (NEO) is one of the stars of the 2021 bull market and has been in the background for some time despite the market's rise. Forgotten due to the prominence of new projects and the emergence of new trends, NEO reminds itself with its latest move. The coin is up 7.34% as Bitcoin (BTC) retreats to $43,000, ranking second on the “Top Riders” list.

Sellers are starting to show their influence!

NEO, which surged from $10.80 to $12.50 in a short period of time, could not withstand the selling pressure and fell back to lower levels. NEO is trading at $11.71 and if volume breaks $12 and remains above that level, it could rise to $12.90 to $13.76 and $14.90 respectively. In this process, news from within the ecosystem will play a key role.

With tensions rising as the Fed rate decision approaches, factors such as increased BTC dominance or NEO prices sustaining below $12 will strengthen the hands of sellers. In this case, the first reaction from $10.75 can be expected. If the decline continues, a drop to $9.68 and $8.67 is possible. Additionally, a daily close below $8.67 would signal a fresh bearish course.

#Neo. # #Ceek. #work. . #Lndx. #Original. Trace.

# Gate Post Highlights # # ContentStar # # HotTopicDiscussion # $NEO $BTC