Coin of the day is NEO.
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.
The main difference between NEO and Ethereum is that NEO is built to be regulation compliant. Hence, NEO has much higher chances to be accepted in China, which is a communist regime.
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
After turnaround on 07.04, the coin spends weeks in the lateral movement under the 0.009 level, in attempts to break it. Recently the breakthrough happened accompanied by a rise in volumes and high momentum. For the bullish scenario, 100-days EMA and 0.009 should stay as support. From the upside there is a strong psychological resistance 0.01, breakthrough above this level will also coincide with the breaking of the last Bearish Trend Line. So, a breakthrough of the 0.01 level in nearest terms would be a strong buying signal.
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.
The main difference between NEO and Ethereum is that NEO is built to be regulation compliant. Hence, NEO has much higher chances to be accepted in China, which is a communist regime.
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
After turnaround on 07.04, the coin spends weeks in the lateral movement under the 0.009 level, in attempts to break it. Recently the breakthrough happened accompanied by a rise in volumes and high momentum. For the bullish scenario, 100-days EMA and 0.009 should stay as support. From the upside there is a strong psychological resistance 0.01, breakthrough above this level will also coincide with the breaking of the last Bearish Trend Line. So, a breakthrough of the 0.01 level in nearest terms would be a strong buying signal.
