NEO Crypto Eyes 100% Rally on China’s Yuan Stablecoin Plan
NEO crypto surged 14% in 48 hours after reports that China will launch a yuan-backed stablecoin. Analysts note that NEO crypto has broken a key resistance trendline around $7. A close above $8 could trigger a 100-110% rally to $14 or higher. Trading volume increased alongside price action, confirming bullish momentum. The NEO blockchain is seen as China’s Ethereum and could benefit from renewed government support for smart contract platforms. China’s State Council plans to review stablecoin regulations this month, aiming to boost the yuan’s international role and compete with US-backed stablecoins under the GENIUS Act. If the yuan stablecoin launches, NEO crypto may tap new inflows from global remittance and trade. Traders should watch resistance levels at $8 and monitor volume for signs of further upside.
Bullish
Categorizing this news as bullish reflects the strong technical breakout and supportive fundamental catalysts. NEO crypto breaking above a long-term resistance near $7 with rising volume mirrors past altcoin rallies following major announcements, such as central bank digital currency developments. China’s yuan-backed stablecoin plan adds institutional legitimacy and is likely to drive renewed capital flows into smart-contract platforms. In the short term, traders may push NEO crypto toward its next resistance at $14 as momentum builds. Over the long term, greater on-chain activity and potential inclusion in global remittance corridors could sustain growth. Similar to how US Treasury-backed stablecoin regulation under the GENIUS Act has bolstered USD-stablecoin markets, China’s policy shift is a bullish catalyst for NEO crypto and other China-based altcoins.