Ethereum

Resistance

Coin

<ul class="list-ic vertical">
 <li><span>1</span> <a>The Neo team is developing a sidechain compatible with EVM.</a></li>
 <li><span>2</span> <a>The bullish investors are bound by a major resistance level of $15.</a></li>
 <li><span>3</span> <a>The trend in the coin is bullish after the bulls bounced back from a major support level.</a></li>
</ul>
<p>The NEO platform is a decentralized and open-source blockchain network. It allows for the creation of various blockchain services and products with fast transaction speeds. It is often compared to Ethereum since both networks provide tools for creating decentralized applications, such as decentralized exchanges and price markets.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-how-does-neo-coin-function-strong"><strong>How Does NEO Coin Function?</strong></h2>
<p>The Neo network has two native cryptocurrencies, NEO and GAS. NEO enables users and network participants to stake their balances and participate in network governance through proposals and votes on changes, while GAS is used to pay for computational power on the network.</p>
<p>The network operates on the Proof of Stake consensus mechanism with a unique protocol called delegated Byzantine Fault Tolerance. This protocol enables the processing of up to 10,000 transactions per second while operating between approved nodes.</p>
<p>Through the combination of PoS and dBFT, Neo ensures scaling of the network, faster transactions, and smooth operations with smart contracts and Dapp creation. NEO generates GAS and serves as the primary crypto for payment settlement on the platform, while GAS is used to pay transaction fees.&nbsp;</p>
<p>NEO is also used in network governance as holders can stake NEO to vote for consensus nodes, with consensus nodes generating new blocks and receiving rewards in GAS fees in return.</p>
<h3 class="wp-block-heading" id="strong-neo-coin-news-strong"><strong>Neo Coin News</strong></h3>
<p>Neo is developing a new sidechain that will be compatible with Ethereum Virtual Machine (EVM) to prevent future exploits by Miner Extractable Value (MEV). It will protect Neo from MEV-related attacks. Moreover, it will ensure the security and privacy of users and their transactions.</p>
<p>Furthermore, the new sidechain will mimic Neo N3’s core features, including its dBFT consensus mechanism and NeoVM, as well as a subsidiary version of NEO. This development is crucial in providing a seamless user experience within the Neo ecosystem.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-prediction-of-the-neo-coin-price-strong"><strong>Technical Analysis &amp; Prediction of the NEO Coin Price&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1600" height="787" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694.png" alt="Neo Network: Will NEO Coin Break the Major Resistance of $15?" class="wp-image-185821" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694-300x148.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694-1024x504.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694-768x378.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694-1536x756.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694-750x369.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-694-1140x561.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption"><a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=BINANCE%3AMKRUSDT" rel="noopener noreferrer nofollow">NEO/USDT</a> chart by TradingView
  </figcaption>
 </figure>
</div>
<p>The NEO <a href="https://www.thecoinrepublic.com/2023/12/26/wbtc-coin-price-analysis-uptrend-continues-in-wrapped-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">coin price</a> has been rising since it touched the immediate support level of $10.00 back in mid-November. The 50-day EMA has done a bullish crossover with the 150-day EMA.</p>
<figure class="wp-block-table aligncenter">
 <table>
  <tbody>
   <tr>
    <td><strong>Pivot</strong></td>
    <td><strong>Classic</strong></td>
    <td><strong>Fibonacci</strong></td>
    <td><strong>Camarilla</strong></td>
    <td><strong>Woodie</strong></td>
   </tr>
   <tr>
    <td>S3</td>
    <td>—</td>
    <td>5.420</td>
    <td>9.350</td>
    <td>1.450</td>
   </tr>
   <tr>
    <td>S2</td>
    <td>5.420</td>
    <td>7.880</td>
    <td>9.950</td>
    <td>5.240</td>
   </tr>
   <tr>
    <td>S1</td>
    <td>8.270</td>
    <td>9.410</td>
    <td>10.540</td>
    <td>7.910</td>
   </tr>
   <tr>
    <td>P</td>
    <td>11.880</td>
    <td>11.880</td>
    <td>11.880</td>
    <td>11.700</td>
   </tr>
   <tr>
    <td>R1</td>
    <td>14.730</td>
    <td>14.340</td>
    <td>11.720</td>
    <td>14.370</td>
   </tr>
   <tr>
    <td>R2</td>
    <td>18.340</td>
    <td>15.870</td>
    <td>12.310</td>
    <td>18.160</td>
   </tr>
   <tr>
    <td>R3</td>
    <td>24.800</td>
    <td>18.340</td>
    <td>12.910</td>
    <td>20.830</td>
   </tr>
  </tbody>
 </table>
</figure>
<p>In addition to this, the RSI has just spiked from the overbought level of 70 and is coming down to the neutral level of 50. The price prediction for the NEO coin will be bullish if investors manage to break beyond the immediate resistance of $15.46.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1598" height="457" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693.png" alt="Neo Network: Will NEO Coin Break the Major Resistance of $15?" class="wp-image-185820" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693.png 1598w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693-300x86.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693-1024x293.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693-768x220.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693-1536x439.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693-750x214.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-693-1140x326.png 1140w" sizes="(max-width: 1598px) 100vw, 1598px">
 </figure>
</div>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Neo is a decentralized blockchain that uses a proof-of-stake consensus mechanism. It is creating a sidechain compatible with Ethereum Virtual Machine to prevent future exploits. Price prediction for the native token NEO is bullish.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong>&nbsp; $10.0 and $6.57</li>
 <li><strong>Resistance Levels: </strong>$15.4 and $27.2</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.</p>

Neo Network: Will NEO Coin Break the Major Resistance of $15?

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