NEO unexpectedly rebounds 23%, hits 25-week high of $10.73

The strong performance saw NEO hit the $10.73 mark for the first time since August 2022.

The chart below shows that since the beginning of the new year, the price performance of NEO has been roughly in line with the price of market-leading Bitcoin.

One notable difference, however, is that NEO continues to trend. Starting on February 2, BTC peaked at $24,296, a 46% year-over-year increase at the time. However, NEO continues to function as Bitcoin and the broader market has lost steam.

On Feb. 9, the token rallied 23%, breaking resistance at $9.18 established in early November 2022, shortly before FTX crashed.

NEO has a year-to-date growth rate of 75%. However, one incident printed a long bottom wick. Combined with a firm rejection at $10.73, a “Darth Maul” candle, aka a gobo top, formed.

This shows that the previous uptrend has reached a point of indecision.

Source: TradingView

NEO Global Development Plan

On Feb. 7, NEO announced a partnership with “FindTruman,” a Web3 game offering a “first-person role-playing style” format.

FTG token comes with governance rights and staking rewards, and plans to integrate AR/VR technology.

The FindTruman founders want creators and gamers to have a fairer share in the ecosystem of games they contribute and develop. They see Web3 and blockchain as a way to realize this ambition.

The game is incubated through NEO’s EcoBoost program, which provides $200 million in funding for small and medium-sized projects to develop and build on the NEO N3 blockchain.

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According to Cryptoslate

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