The NEO blockchain, known as the ‘Chinese Ethereum’, has seen a significant increase of +7% after Flamingo Finance integrated cross-chain support with Ethereum and Ontology. This move bridges the Western and Eastern blockchains and has sparked anticipation for NEO to continue its rally.
With the recent integration, NEO’s price has surged +7% to reach $7.35, representing a 24-hour change of -2.26%. The price spike on September 5 showed a +15.3% increase, reaching upper trendline resistance.
Currently, NEO’s price action is in a consolidation phase, as it reclaims the 20-day moving average (20DMA) resistance that has held for the past 60 days. Technical indicators suggest a bullish outlook, with the price bouncing off the double-bottomed support at $6.85 and the RSI at 46, indicating room for further upside movement. The MACD also shows bullish divergence at 0.07.
In terms of price targets, NEO aims to reclaim previous support at $8.60, which would represent a potential increase of +17.33%. On the downside, there is a risk of falling to the double-bottomed tested support at $6.85, a potential decrease of -6.55%. The risk-to-reward ratio for buying NEO remains favorable at 2.65.
Meanwhile, Launchpad XYZ (LPX), a next-generation AI analytics platform, has attracted over $1.6 million in presale funding. LPX offers user-friendly tools, insights, and analytics for Web 3.0, including NFT discovery, a decentralized exchange (DEX), and utility token analysis. Stakeholders of a minimum of 10,000 LPX tokens can enjoy fee discounts, early access to NFT whitelists and presales, play-to-earn game launches, and community prestige badges. The platform plans to list LPX on major cryptocurrency exchanges, driving demand for the token.
As Launchpad XYZ introduces more features in Q3 2023, it expects significant user adoption. With a maximum token supply of 1 billion, LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it an exciting project to monitor in the crypto industry.
Don’t miss out on the opportunity to join Launchpad XYZ and explore its range of offerings, including Web3 presale projects, the P2E Hub for gaming, the Metaverse Experience Library, and the Trading Terminal. Future developments include a fractionalized assets marketplace, a Trading Edge Game, and creator tools for brands. Stay updated with the latest news and updates on Twitter and Telegram.
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.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
