#KnowYourToken - Neo (NEO) 📢
Market Cap: $1.63 billion
1W Trading Volume: $7.07 billion
Percentage change in Price (1W): 57.3%
Any News Around the Token:
The Neo (NEO) community's newfound interest in the DeFi 'Social Trading' token, Option2Trade (O2T), signals a dynamic shift in investment preferences and reflects the evolving landscape of blockchain innovation. O2T's integration of social trading mechanisms into DeFi resonates with Neo (NEO) investors, emphasizing user empowerment and financial inclusivity. Positioned at the forefront of the DeFi revolution, O2T aligns with Neo (NEO)'s ethos of innovation and collaboration, offering a more interactive and informed trading environment. The enthusiastic reception of O2T within the Neo (NEO) community underscores its potential to redefine investment paradigms and enhance the collective capabilities of the ecosystem, heralding a new era of community-driven financial strategies.
Analysis:
Neo’s native crypto NEO has been skyrocketing thanks to the above news - and has seen a 62% rally from April lows. It has also more than doubled in value in the past two months, going from under $11 at the beginning of February to just over $23 now. From a technical standpoint, it is trading at its highest point in 2 years, and above all, the Fibonacci resistance levels are plotted on the chart. Thus, the targets on the upside can be placed at psychological levels of around $25 and eventually $30. On the downside, $20 would serve as meaningful support, aligning with the R2 Fibonacci level, which it has flipped.
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