While NEO Price Explodes, These 3 Altcoins May 10x This Year

cryptonews.com:

NEO, the cryptocurrency that powers the smart-contract-enabled Neo blockchain, has been surging in 2023, and the rally isn’t showing any signs of stopping just yet. NEO/USD was last changing hands slightly to the north of $9.0 per token, up around 47% year-to-date, though the cryptocurrency has now pulled over 10% lower versus its Thursday highs in the $10.40 area.

NEO’s gains really got going around this time last month when the cryptocurrency broke to the north of a downtrend that had been in play going all the way back to March 2022. NEO then proceeded to break above all of its major moving averages, including, most importantly, its 200-Day Moving Average at the start of February. The 21DMA has been acting as a strong area of support in recent weeks, and NEO appears to be in an aggressive uptrend date back to the end of 2022.

Should the current uptrend continue, NEO could soon test long-term support/resistance in the $12.50-$13.50 area. Conversely, should the current uptrend snap, then NEO would receive strong support in the mid-$8.0s from the 21 and 200DMAs, plus an area of resistance-turned-support.

NEO has been rallying in tandem with a broader move higher in cryptocurrencies since the start of the year, with traders betting that 2023 will be a better year amid signs that 1) major cryptocurrencies like Bitcoin might have bottomed and 2) that the US Federal Reserve will substantially slow the pace of interest rate rises. The return in risk appetite has disproportionately benefitted altcoins like NEO and if the rally continues, NEO could well see easy 40% gains from current levels.

But in a cryptocurrency bull market, investors may be able to secure even more impressive gains, perhaps in the region of 10x, if they invest