• NEO retreats from the intraday high, stays unchanged since the beginning of Tuesday.
  • NEO team has announced the launch of NEO 3.0 testnet.

NEO touched $9.29 high during early Asian hours amid strong recovery from the recent low of $8.90. However, NEO/USD failed to hold the ground and retreated to $9.12 by the time of writing. The 20th largest digital asset with the current market value of $647 million has stayed unchanged both on a day-on-day basis and since the beginning of the day.  NEO is most actively traded at Bitfinex against USDT. From the longer-term perspective, the coin bottomed out at $8.08 on September 10 and has been moving in a tight range ever since. 

The initial support is created by the upper line of the Bollinger Band on a daily chart. Once it is out of the way, the upside is likely to gain traction with the next focus on $9.90 ( SMA50 (Simple Moving Average) daily) and psychological $10.00. On the downside, important support is created by $9.00. A sustainable move lower will take us towards the recent low of $8.08.

NEO project updates

NEO developers team announced a launch of NEO 3.0 TestNet, which is considered as a big move towards major network update

"With the launch of #NEO3 TestNet and Preview1, NEO has taken a tangible step forward in terms of advancing NEO3 while enabling our developer communities to begin testing and exploring NEO3 upgrades,” the team wrote in the official Twitter account.

The new version of NEO blockchain is aimed to improve the platform scalability and empower developers with new tools and functionality, including "optimized smart contract system, and a feature-packed infrastructure set,” according to the press release.

Some of the features were announced earlier this month during the NEO Community Assembly conference. Read more details here.

NEO/USD, one-day chart

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