Neo Coin one of the oldest alternatives to the Ethereum blockchain has launched its N3 mainnet. The timing for the rollout of the update that creates Neo project blockchain technology as an “all-in-one” infrastructure can’t be better as there are obvious concerns around the Ethereum network. 

Neo N3 features updates like built-in oracles, on-chain governance, decentralized identity protocol, distributed object storage system NeoFS which is expected to be launched in April. as the project states, the new version of the blockchain technology will increase the transaction speed from 1K per second to 5K per second and reduce the transaction fees by 100 times.

NEO/USD signalling climb inside the uptrend channel

Low transaction fees definitely will give a foothold to Neo price before Ethereum as the known “high gas fees” on Ethereum blockchain transaction is the pain of users for some time now.

 Two notable features of N3 are native oracles and decentralized storage, meaning that dApp developers will rarely to none require the utilization of Chainlink and Filecoin.

There is an excellent impulse on NEO/USD, signaling the continuation of the climb inside the uptrend channel.

The first resistance which can lay off the uptrend is found at $50.50 and if NEO is in a position to close above this resistance, there's an excellent chance that the coin will continue the surge towards $55 and $60.

There are several points of support that back the uptrend of NEO, see the chart below.

As seen on the above 4H NEO/USD chart, the pair has made a serious contribution towards the uptrend continuation, notably a breakout from the symmetrical triangle. NEO has also tested the upper edge of the triangle as support, which is additionally a crucial step for the trend continuation confirmation. Whilst, RSI shows that NEO is overbought, the MACD line remains over the signal line, and therefore the last completed 4H candle has touched MA100 and EMA50 indicators to show them into its supports.

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