Coin of the day is NEO.
NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China, often called a China Ethereum.
The team calls themselves a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network.
NEO Smart Economy consists of three parts: Digital Assets, Digital Identity, Smart Contracts.
NEO coin is often considered as the ultimate hedge for the ETH holders.
The best future scenario for NEO is to replace Ethereum in China (Like Baidu and Google).
Technicals
Since its peak on 30.01.208, NEOBTC price was lowering under the influence of the ICO ban in China. Now the coin broke all the Bearish Trend Lines and drawing a reversal pattern above the 0.0067 low. The breakthrough above the 0.007 level was accompanied by the rise in trading volumes, which is also a good sign. The overall position of the price is at the 50% retracement of the global uptrend with the peak at 0.015 (30.01.2018). Breakthrough of the local 0.008 resistance and 100-days EMA will lead the coin to the primary resistance 0.01. From the below, to not dismiss the uptrend scenario the 0.007 level should hold.
NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China, often called a China Ethereum.
The team calls themselves a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network.
NEO Smart Economy consists of three parts: Digital Assets, Digital Identity, Smart Contracts.
- Digital Assets - NEO aims to convert traditional assets into digital ones using smart contracts. These digital assets will be decentralized and will be protected by law using digital certificates on the blockchain, which in turn, will guarantee trust.
- Digital identity - NEO will enable the creation of identity information of organizations, individuals, and entities in electronic form. These identities will be usable via multi-factor authentication mechanisms such as facial recognition, fingerprints, voice recognition, SMS etc.
- Smart Contracts - The NeoContract smart contract system allows to program contracts with C#, Java and other mainstream programming languages in their familiar IDE environments (Visual Studio, Eclipse, etc.). NEO's Universal Lightweight Virtual Machine, NeoVM, has the advantages of high certainty, high concurrency, and high scalability.
NEO coin is often considered as the ultimate hedge for the ETH holders.
The best future scenario for NEO is to replace Ethereum in China (Like Baidu and Google).
Technicals
Since its peak on 30.01.208, NEOBTC price was lowering under the influence of the ICO ban in China. Now the coin broke all the Bearish Trend Lines and drawing a reversal pattern above the 0.0067 low. The breakthrough above the 0.007 level was accompanied by the rise in trading volumes, which is also a good sign. The overall position of the price is at the 50% retracement of the global uptrend with the peak at 0.015 (30.01.2018). Breakthrough of the local 0.008 resistance and 100-days EMA will lead the coin to the primary resistance 0.01. From the below, to not dismiss the uptrend scenario the 0.007 level should hold.
