Is NEO Going to Zero? NEO Price Dips 4% as Attention Shifts to Innovative New Bitcoin Platform
NEO price has dipped -4% following rejection from a significant resistance level, leaving some panicked NEO bag-holders asking ‘Is NEO Going to Zero’?
Over the past few weeks, NEO price had rallied incredibly hard following an announcement that the NEO network will be delivering censorship resistant sidechains.
The move was significant in delivering utility for NEO’s GAS token – which acts a means of settlement for transaction fees – and will be used to power the new NEO sidechains.
An eruption of GAS price, which has shot-up more than +290% over the past month, has fuelled significant gains for NEO token – which generates GAS when staked.
But now following failed resistance testing, NEO price alongside GAS appears to be undertaking a retracement move, as price action cools down from the explosive upside movement.
Wish you all a MERRY XMAS already.
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