NEO price analysis: NEO/USD vulnerabilities remain tilted despite network integration talk
- NEO price is trading in positive territory on Monday with gains of some 2.15%.
- NEO/USD price action broke out to the downside and retested bearish pennant structure, which has left it vulnerable to further risks south.
- The director of eco growth for NEO said they are in talks about a potential integration with Celer Network.
NEO price on Monday is trading with gains of some 2% in the second part of the session. NEO/USD has remained to the downside since the bears forced their way out from a bearish pennant structure.
NEO are said to be in talks with Celer Network regarding a potential integration, as noted by the NEO director of eco growth, John Wang. It could assist in boosting speeds and improve on scalability for the NEO network.
Wang said:
“A public blockchain is more than a currency: it needs to have the infrastructure for lots of users to come to it … to enable people to do anything.”
NEO/USD daily chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
