NEO price analysis: NEO/USD down 3% on the day, but NEO team doesn't lose optimism
- NEO is one of the worst-performing coins, down 3% since the start of the day.
- Malcolm Lerider from NEO speaks at Wicked Crypto Meetup.
NEO is now 12th digital coin with a market cap $2.4B. It is changing hands at $37.16, down 3.3% since the beginning of the day. The coin touched $35.73 low on June 13 and has been trading with bearish bias since that time, despite a short-term recovery.
Malcolm Lerider, senior R&D manager at NEO, spoke at Wicked Crypto Meetup and shared his views for NEO development.
"Media gave as a name of Chinese Ethereum, which we as a team don't really like, but it helps to understand what NEO really does", he explained, answering the question about what NEO is all about. "Everything you can develop on Ethereum, you can develop on NEO as well". What makes NEO stand out is the ability to build the link between real economu and digital economy.
Malcolm Lerider mentioned faster execution, the finality of blocks and scalability as the key advantages of NEO, that will allow the network to gain popularity in future.
From the shorter-term perspective, NEO/USD is supported by $37.00; once the bears clear this obstacle, $36.50 and $36.00 will come into focus. The recovery is capped by $38.00 with 50-SMA (hourly chart) marginally below that handle. The next resistance is created by psychological $40.00 and $41.00 (200-SMA)
Author
Tanya Abrosimova
Independent Analyst
