The NEO blockchain, often dubbed the “Ethereum of China,” is among the biggest gainers in the last 48 hours. The coin is up nearly 15% in two days, reversing sharply from a key support level as buyers aim to break a local resistance level. At this pace, NEO crypto is not only on the cusp of adding to its two-day gains but also has a high possibility of soaring by triple-digit gains, trending at levels seen when the network dominated crypto.
Based on Coingecko data, NEO crypto is firm. Although it is down nearly 3% in the last trading month, the surge of the past two days has reversed losses, pushing it back into green territory after two weeks. It is up 10% in the last week of trading and nearly 12% in the past two weeks. Still, it has yet to fully reverse the losses of the past year, and it is still down by over 30%.
daily chart points to strength. If NEO crypto closes above $7 by the end of today, there is a high possibility of prices breaking above July 2025 highs and $8. When this happens, the coin will have shaken off sellers that dominated mainly in Q1 2025 before the consolidation of the past two quarters.
Ideally, this expansion should be with rising trading volume, mirroring the last two trading days. Such a breakout will provide a solid foundation for NEO crypto to spike by at least 100%. In that event, it might rise above $14 and even retest December 2024 highs of around $26, outperforming top Solana meme coins.
Will NEO Crypto Buyers Press On? Analysts Expect a 100% Pump
On X, enthusiasm around NEO crypto is high, explaining why it is one of the best cryptos to buy. One analyst notes that NEO has successfully broken through a key resistance trend line that had capped the coin for months.
This breakout, supported by above-average trading volume, is a bullish signal and, according to the analyst, a “big deal.” In his view, the coin is primed for a 100-110% expansion in the coming days.
$NEO
Breaking Symmetrical Triangle on Daily Chart.
successful Breakout can lead 100-110% Rising in coming days ✍️#NEO pic.twitter.com/1jlivG3QHw— Globe Of Crypto (@GlobeOfcrypto1) August 21, 2025
Meanwhile, another trader added that NEO crypto is currently attempting to reclaim a long-term support zone at around $7. If successful, the coin could soar to $30 and $35 in the coming weeks and months.
#NEO It looks good, the price is trying to return to the long-term support zone, which is the block at 7$! After that, I expect a recovery to the specified area, with a price range of 30-35$ for the trend line! $NEO pic.twitter.com/Xfj7qt41ij
— Crypto Dream (@_Crypto_Dream) August 21, 2025
It remains to be seen whether NEO crypto will break higher and free itself from the shackles of bears. If it does, it could rise higher, as it did in 2021, when the network and coin capitalized on broader market enthusiasm. The ground appears firm.
Presently, Ethereum is steady, absorbing selling pressure and trading above $4,300. It nearly broke 2021 highs, a time when NEO crypto was also steady and rallying strongly.
China Plans to Launch a Yuan-Backed Stablecoin
Additionally, NEO appears to be riding the wave of renewed interest in smart contract platforms. According to reports, China’s State Council will review a roadmap by the end of the month that could see the Asian economic powerhouse launch yuan-backed stablecoins, promoting global adoption of its currency.
This decision marks a drastic reversal of China’s stance on crypto, boosting China-based smart contract platforms, including NEO crypto. Mining and trading were banned in 2021 over concerns that private digital assets would destabilize its currency. A study session with the country’s senior leadership is reportedly scheduled for the coming weeks, setting the tone for stablecoin development.
China’s ambition to elevate the yuan to the status of a global reserve currency, similar to the USD or the Euro, makes its pivot to launch a yuan-backed stablecoin strategic. The United States has already passed the GENIUS Act into law, promoting firms to launch USD-backed stablecoins as long as the underlying security includes USD cash deposits or Treasuries.
The GENIUS Act is expected to spur the growth of USD-backed stablecoins, provide legal clarity, and fast-track institutional adoption, strengthening the USD’s dominance in the global crypto market. China appears keen to counterbalance this influence, and once the yuan-backed stablecoin launches, it will also facilitate international trade and remittance.
However, some analysts warn that due to China’s stance on crypto, even the yuan-backed stablecoin may face limits, capping its scalability in global markets.
