Chainlink's Strategic Expansion Enhances Ecosystem

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 50 minutes ago

NEO-1.446%

LINK-4.962%

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Service Expansion: Chainlink announced the extension of its core services, including CCIP, CRE, Data Streams, and Data Feeds, to new blockchain networks, aiming to foster widespread global adoption and enhance its competitiveness in multi-chain environments.
Cross-Chain Interoperability: By deploying CCIP on networks such as Creditcoin, Neo X, and Tempo, Chainlink facilitates seamless access to its services for other blockchains, enhancing flexibility for tokenized assets and decentralized applications.
Partnerships: Chainlink's collaboration with Ink enables decentralized finance applications to leverage secure off-chain data and oracle infrastructure, enhancing data streaming and oracle-based application functionalities.
Real-Time Data Solutions: Chainlink's extension of data streams to Robinhood's test network provides low-latency and real-time data solutions, bolstering its position as a market data leader on blockchain platforms.

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Technical Analysis for NEO

Technical Sentiment Analysis for Neo (NEO). As of , Neo (NEO) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for NEO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, NEO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Neo (NEO) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	2.247	2.5	2.703	2.956	3.159	3.412	3.615
Fibonacci	2.5	2.674	2.781	2.956	3.13	3.237	3.412

About NEO

Neo bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet — a new economy where digitized payments, identities and assets come together.Initially known as Antshares, this project was believed to be China’s first-ever public blockchain when it was launched in February 2014. The open-source platform subsequently rebranded to Neo three years later.As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operate an EcoBoost initiative that’s designed to encourage people to build decentralized apps and smart contracts on its blockchain.It’s often been likened to the Chinese version of the Ethereum network.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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