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NEO’s price has surged 13% over the past 24 hours, trading at $8.84 as of 7:20 a.m. EST.
This gain has led to a weekly performance increase of 30%, capturing the interest of both investors and traders.
NEO, an open-source blockchain platform, has unveiled a sidechain designed to counter Maximum Extractable Value (MEV) attacks while maintaining compatibility with Ethereum.
This marks a significant milestone for NEO, potentially enhancing transaction scalability and speed.
#Neo Founder @dahongfei, announcing #Neo’s New Chapter: an #MEVFree, #EVM compatible sidechain, to ensure security, privacy, and a smooth experience in the increasingly complex #DeFi landscape.
The sidechain is under development. The testnet is planned to be launched at the end… pic.twitter.com/EO9Ck52qGt
— Neo Smart Economy (@Neo_Blockchain) October 27, 2023
In reaction to this advancement, the NEO price experienced an uptick.
NEO shows a string of price surges, as seen in the continuous green candlesticks on the chart, starting from the support level at $6.42. Following an extended period of consolidation, NEO has convincingly broken out, indicating a sustained bullish trend.
NEO Price Prediction
The price has successfully surpassed both the 50-day and 200-day simple moving averages (SMA), which now serve as immediate price support, solidifying the bullish trend. Additionally, the 4-hour chart indicates a cross of the 50 SMA, a confirmation that may attract more buyers.
The relative strength index (RSI) shows an upward trend as the price bounces back from the 50-level mark and trades at 76, signifying strong buying pressure from $7.42 to $8.98.
NEO’s bullish investors are committed to recovering their losses, finding support from the RSI and the 50-day and 200-day Simple Moving Averages. Their target may be breaking the $10.5 resistance if this momentum persists.
Conversely, bearish traders might seize the correction as an opportunity to mitigate their losses, potentially pushing the price down to the $7.69 support level.
WSM Rises by 13%, Best NEO Alternative
Wall Street Memes (WSM) has caught the attention of crypto analysts and traders due to its promising potential.
The WSM token, priced at $0.027 as of 7:51 a.m. EST, has experienced a 13% gain in the last 24 hours. The daily trading volume has surged to reach $46 million.
Jim Cramer is at it again pic.twitter.com/1gwQb16lhl
— Wall Street Memes (@wallstmemes) October 20, 2023
Investors who acquire and retain $WSM will have the privilege of accessing exclusive token-holder communities, receiving bonuses at the WSM Casino, and earning rewards through staking their $WSM tokens. Alessandro De Crypto, a YouTuber with approximately 11.5K subscribers, shared this information.
https://youtu.be/OgTv3XuSyoA
Furthermore, the WSM team has introduced a fresh play-to-earn feature on their website called “The Casino,” offering players a generous 200% bonus on their initial deposit with a cap of $25,000.
For your convenience, you can acquire WSM tokens on prominent tier-one exchanges or directly purchase them through their website using USDT or BNB.
The price continues to trade above the descending wedge pattern. Nevertheless, it has remained in a consolidation phase for the past few weeks, with the bulls finding support around the $0.025 zone.
This support level could empower the bulls to increase prices, breaking through the resistance at $0.031. This breakthrough would confirm the falling wedge pattern and signal the onset of a bullish rally.
The relative strength index also rebounded from 32, trading at 40. This indicates intense buying pressure for the price of WSM. This is a good buy opportunity for you as an investor.
The bullish investors are staying vigilant and could try to drive the price higher, aiming for the upper boundary of the descending wedge pattern and reaching the $0.045 price objective.
Check out Wall Street Memes here.
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