NEO Eyes $9.50 Surge Following Hacken Security Audit and ChainGPT Strategic Partnership

NEO rockets toward bullish targets as ecosystem strengthens.

Security First: Hacken's Audit Boosts Confidence

The recent Hacken audit delivers a clean bill of health—no major vulnerabilities detected. That stamp of approval sends institutional signals louder than a Bloomberg terminal alert.

Strategic Expansion: ChainGPT Collaboration Unleashed

NEO's integration with ChainGPT's AI blockchain infrastructure opens new utility corridors. Smart contracts meet artificial intelligence—creating synergies that traditional finance can't even comprehend with their legacy systems.

Market Momentum: The $9.50 Target in Sight

Traders are positioning for the $9.50 resistance break. Technicals align with fundamentals—a rare alignment in crypto where most 'fundamentals' are just influencers shouting into webcams.

Because nothing says 'sound investment' like needing both a security audit and an AI partnership to justify price movements that traditional assets would require actual revenue to achieve.

• Hacken audit and ChainGPT partnership fuel bullish momentum in NEO ecosystem growth.
• Technical breakout above VWAP confirms bullish trend targeting $9.50 and $10.20.
• Derivatives trading volume surge signals rising trader conviction in NEO breakout.

NEO has bounced higher to trade at $8.40 on the ecosystem milestones that have been achieved. This included a Hacken audit and a ChainGPT partnership. The strong momentum is backed by technical indicators. Also, derivative volume and open interests suggest an increasing trader conviction.

Successful Audit and A New Partnership

Neo published the results of an audit by Hacken on its zero-knowledge Distributed Key Generation protocol. The NEO X’s anti-Maximal Extractable Value framework is based on DKG. It is also a part of the ZK Trust Relay campaign. This audit confirmed the security and robustness of this infrastructure and further strengthened the technical basis for Neo.

In addition, Neo announced an alliance with ChainGPT to introduce artificial intelligence into the ecosystem. This collaboration presents a no-code smart contract, generation of NFTs, auditing, and trade tools on the Neo N3 and Neo X. The MOVE places Neo in the booming AI x Web3 ecosystem as the company aspires to recruit more developers to grow its community. These two catalysts have sharpened the interest of investors in the project.

Bullish Breakout Targets $10.20

According to TradingView chart, the VWAP at the price of $7.56 had just been broken by NEO. This was a strong resistance level in the past. This reversal into buy-side action validates the bullish pattern. Now, traders can have assurance that market pullbacks can stabilize around this support area.

Fibonacci retracement levels define key upside targets. The token ROSE above the price levels at $7.13 (0.236 retracement) and $6.88 (0.382). Currently, the price lies around $8.38, but it’s below $8.97, which is the 0.618 Fib zone. When this resistance is broken with strong buyer momentum, the token can reach the target of $9.50 and even $10.20.

Fib. and VAWP. Source: TradingView

Momentum Reaffirms Bullish Extension

Breakout is also in harmony with momentum indicators. The Relative Strength Index is at 77, indicating that it is an overbought market. Normally, this indicates the potential of an imminent cooling. However, it can also be an indication of high bullish pressure. As long as RSI trades above 70, the momentum favors further gains.

The MACD indicator confirms this position. The MACD line (blue) crossed above the signal line. This crossover serves as a sign of the resumption of the uptrend and that buyers are in control of the situation. Also, the rising height of the histogram bars shows that the gap between MACD and the signal line is widening. This confirms an accelerating bullish momentum.

MACD and RSI. Source: TradingView

Breakout Momentum Driven by Derivatives

There exists an additional LAYER of strength, which is market positioning. According to Coinglass data, the derivatives trading volume witnessed an 84% increase to $287.49 million in the last 24 hours. Open interest is also up 24% to $61.69 million. This means that traders are opening new positions and not merely rolling over old positions.

The rise in futures activity points to the increasing speculative demand and leverage-based exposure. An increase in derivatives volume with open interest is usually an indicator of conviction in the token’s current direction. If this persists, volatility WOULD amplify, but the uptrend would probably continue as traders chase the breakout.

Source: Coinglass

The Hacken audit, combined with the ChainGPT collaboration, has caused a renewal of interest in NEO. Key indicators, including technical signals, trading volume, and derivatives data, are all pointing to additional gains. Hence, the current attention of traders is whether the token can continue its rally to reach the $9.50 mark.