NEO TOKEN RISED 40% OVERNIGHT

NEO, the native token of blockchain-based platform Neo, surged 40% overnight to its highest price point in a year, making it among today's best-performing cryptocurrencies.

NEO is trading at $21 with a 24-hour market cap of over $1 billion. NEO, ranked 74th in the top 100 cryptocurrencies list, has approached a market value of $1.50 Billion.
50 million tokens were issued to project supporters and 15 million were kept for contingencies. Additionally, 20 million is used to incentivize developers and 15 million for cross-investment in other projects. No other coin will be issued, but NEO is available on some exchanges.
NEO was founded in 2014 as AntShares by Da Hongfei and Erik Zhang. Rebranded as NEO in June 2017. The blockchain-based platform supports two native tokens, NEO and NEO Gas. The NEO project's blockchain is designed to digitize identities and assets and use smart contracts to track and transfer ownership (a smart economy).

NEO token price has shown a strong upward trend in the last few days. It made its highest rise on March 4, rising above the critical resistance point of $19.31. This price also experienced its highest increase this year.
According to analyst estimates, NEO's price has broken above the critical resistance point of $16.92, the high point on March 29. It has also moved above the 50-day and 25-day Weighted Moving Averages (WMA).
The analyst suspects that the token will retest the important support at $19.31 and then resume the uptrend.
However, a break below this support level would signal that the bears have prevailed, which could push the price to $16.92. A move above the critical resistance at $22.40 will signal more gains in the near term.