The New Improved Smart Contract Cryptocurrency You Should Know About
NEO – The "Island Ethereum".
Dubbed the "Ethereum killer" or "Chinese Ethereum", NEO was initially launched in February 2014 under the gens Antshares and ulterior rebranded as NEO in June 2017. The independent digital asset is NEO which is a not-divisible relic that generates GAS tokens (the latter is separable). GAS can embody accustomed devote network and transaction fees.
The project is a community-driven blockchain that aims to create a mesh of decentralized apps with the ultimate goal of creating a ache economy system. NEO's most prolific characteristic is the NeoContract which is a smart contracts system intended to seamlessly integrate the current developer ecosystem. It is matched with well-known programming languages such as C# and Java in their familiar environments such as Overshadow, Visual Studio apartment, etc. for compilation, debugging and smart contract development.
NEO/USD Technical Outlook – The Big Picture
Currently standing at add up 16 in the rankings with a tot securities industry cap of just over $450 million NEO is trading at $6.93. Its uncomparable peak of $162.11 was reached on January 30, 2018.
2018 has been bearish for NEO but that shouldn't come as a surprise because most cryptocurrencies have been falling like rocks for the last year. Yet, NEO was one and only of the best playacting coins during the 2017 Bull rush so information technology's a bit weird to get word it trading almost flavorless, with nary sign of volatility and with all 2017 gains erased.
There is a pellucid downtrend but what's worrying is that bulls seem to have completely exit the fit. The last time much purchasing pressure was seen was in early April 2018 when price reached the support at $43.7 and jumped into $96 area. Since then we haven't seen any type of retracement higher, just a handful of weekly green candles have appeared and no are noteworthy.
The partner off is currently trading fair preceding the support at $5.0 and will likely see a weaken of same support. Under normal lot periods of flat bowel movement are followed by strong movements/breakouts, the only enquiry is which way it will go.
A Daily graph tells the same story, with the pair in a lackluster downtrend and low volatility. Support lies at $5.50, minor resistance at $10.0 and potential underground at $15.0 (this level has not yet rejected rising prices so it cannot be considered confirmed impe&ce).
If we are to picture relatively significant bullish movement, the first roadblock that needs to be broken is the confluence zone created by the 100 days EMA and the resistance at $10.0. Until that zone is surpassed, all moves up should be treated as unsustainable jumps which will soon be reversed. The overall bias is pessimistic.
Daily Chart Support: $5.50
Weekly Chart Support : $5.0 followed by all round numbers below
Daily Chart Impe&ce : $10.0, 100 days EMA, $15 and $25.45
Each week Graph Resistance : $15, $43.7, $96-100
Most in all likelihood scenario : break of support, guerrilla volatility
Alternate scenario : at some betoken volatility will increase, which will make way for strong breakouts to either lateral; these are technical scenarios that can be invalidated by cardinal reasons (news, forks, announcements, etc.)
Source: https://www.binaryoptions.net/the-new-improved-smart-contract-cryptocurrency-you-should-know-about/
Posted by: bellforthemight41.blogspot.com
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