NEO Demonstrates a Downside Potential
Neo has experienced a 5.3% rise, reaching $11.50 for the week. However, this performance appears less impressive when compared to Bitcoin's 4.8% increase to $44,700 over the same period. After October announcement of collaboration with Ethereum-based applications Neo's prices almost doubled to $15.45 within a few weeks at that time.
Currently, Neo's prices are gradually declining, with a potential downside perspective to break below the support at $10.00 per coin. The likelihood of an upside scenario, with a rise to $15.00, seems low, as the resistance at $12.50 is strengthening.
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