Tanya Abrosimova
Independent Analyst
- NEO is trading below $80.00 amid bearish sentiments.
- NEO Japan tests local version of crypto wallet app for iOS.
NEO takes the 11th place among major coins with a market value over $5B. NEO peaked at $94.65 on April 30 and lost over 21% since that time. The downside was caused by broad short-term correction on cryptocurrency markets, though NEO was hit the hardest, despite potentially softer approach from Korean regulators. Earlier we reported that the new governor of FSS is loyal to crypto.
Meanwhile, NEO Japan Community announced that Japanese version for O3 wallet iOS app was released for beta-testing, which means that local traders will soon be able to use it. This is a positive development, as NEO is very popular among Asian traders, though it hardly qualifies as market moving event.
NEO technical picture
On the intraday level, the local resistance is created by 50-SMA (hourly chart) at $79.80. Once it is broken, the price may go higher towards $82.50 (100-SMA) and to critical level $83.50. The support is created $76.700 and $76.00.
NEO/USD, the hourly chart
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