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Despite the ongoing downturn in crypto prices, investors are still optimistic about crypto projects, as they seek projects with the potential to bring high returns on investment. On-chain data shows a bearish trend for NEO (NEO) today, as it has declined from a crucial support level. On the other hand, industry experts anticipate that Sparklo SPRK token will yield a 5,000X return in the upcoming months.
Sparklo (SPRK): the reasons why investors are bullish
Precious metals like gold, silver, and platinum have very value in the international market. Unfortunately, only a few individuals have access to these precious metals. However, things are about to change. Sparklo wants to revolutionize the industry through NFT fractionalization. This platform will empower investors to own the precious metals market by acquiring fractional shares or complete quantities represented as non-fungible tokens (NFTs).
Each NFT will be fully backed by physical silver, platinum, or gold. Notably, Sparklo has implemented a 1000-day and a 100-year lock on the team’s tokens and its liquidity, respectively. Additionally, the InterFi network has examined the Sparklo smart contract. The platform had also completed its KYC process.
These initiatives are to increase investor confidence. Currently, Sparklo is in the second phase of its token presale, with the SPRK token available at just $0.026 per token. This presents an excellent opportunity for investors who want to own precious metals at a cheaper price to invest in SPRK.
NEO (NEO) price drops, indicators show bullish momentum
The NEO (NEO) outlook for the week has shown a combination of bearish and bullish signals. On the bullish side, NEO (NEO) price witnessed breaking through a resistance line that had been in place for 609 days. This caused an upward movement that drove the price to a new yearly high of $15.80 in February. However, the price of NEO (NEO) eventually dropped below $12 which acted as support, and it is now anticipated to act as a resistance level.
Meanwhile, the Relative Strength Index of NEO (NEO) presents a mixed outlook. The daily RSI has produced a bullish divergence, indicated by a green line. A bullish divergence occurs when there is a decrease in momentum that is not accompanied by a decrease in price. This often suggests potential reversals in a bullish trend. By press time, the price of NEO (NEO) stands at $9.84, a 5.94% decline over the last 24 hours and a 3.84% increase over the past 7 days.
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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