On the 7-day basis, Neo [NEO] has gained above 25% amid strong bull run followed by optimistic developments. At the reporting time, [NEO/USD] is presently trading at a price around ‘$14.51 USD‘. The17th largest ‘altcoin‘ with the present capitalisation of over $1 Bln. On the daily basis, Neo is already 2.41% higher than yesterday.
The recently revealed NEO’s EcoBoost programs might be partly responsible for the altcoin’s sturdy performance. The program is meant to make easy and beneficial conditions for developers & its foster dApps development.
The announcement explained:
“NEO EcoBoost is meant to offer life cycle support for developers, dApps, infrastructure, etc. among the [NEO scheme]. With an aim to assist support, expansion & development of NEO ecosystem.”
Within the primary stage, the program is centered on establishing a partnership with media to urge promotions as well as media coverage.
“As such, we are going to 1st launch the [NEO] EcoBoost Partner’s Recruitment program. Later on, to foster and support high-quality projects among the NEO ecosystem, [NEO] will share resources with all of its partners respectively.”
The initial resistance awaits NEO bull run on approach to $14.80 USD. This space is further secured by the intraday high, the very best level of 2019 touched earlier on 30th May. The next expected price benchmark is above $15 USD.
Moreover, NEO/USD surpassed SMA50 [Simple Moving Avg] on a 7-day basis chart for the very first time. This is indeed a very powerful optimistic signal, that signals that the momentum will gain traction.
However on the other hand, the initial support comes at $14 USD followed by $13.76 USD [the centre line of Bollinger Band on 4-hour chart]. A property move below this handle can open up the way towards succeeding pessimistic aim of $13.00 USD with SMA50 [4-hour] settled right below this handle.