NEO, was once again the winner of the top 10 cryptocurrencies, even though it erased most of its earlier gains by the end of Monday’s trading day.
Also known as Ethereum of China, NEO aims to contribute to a smart economy. They are looking to not only use the blockchain for fast transactions but also to develop a network of ownership confirmations and authorizations. They call this ‘Smart Economy,’ and in it, the ownership of physical commodities will be recorded on the blockchain and linked to a digital identity. This will generate a secure method for recording ownership of items. Back in February, NEO became the first project to break into Weiss Rating’s A tier, which helped its coin to reach the $141 resistance level before getting caught up in the general bearish wave in the cryptocurrency world.
Coming up, NEO is doing a European mini-tour from April 14th- to April 26th. The team will be returning to both Amsterdam and Vienna, and visiting Lisbon, Madrid, Paris, and Zurich for the first time. This upcoming European Tour could make it even more exciting for the price action of its token coin.
NEO/USD might have bottomed out at 78% Fibonacci retracement level of $45. It still remains far below the daily Ichimoku cloud. With the upcoming tours and NEO’s growing platform, it could reach the next resistance level at 61% Fibonacci level of $77 in April. Before the European tour begins, the formerly Antshares platform will be hosting its first 2018 global Hackathon in Tokyo.
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