Coin of the day is NEO.
One of the Chinese attempts to takeover Dapps market has been feeling not so good, but lately showing the signs of the possible turnaround. In case of a turnaround, the price looks attractive, especially given the growth of 600% in 2018.
Neo first name was AntShares (ANS), the company was founded in 2014 by Da Hongfei and Erik Zhang and has been referred to as ‘China’s first blockchain platform’. In 2016, supposedly in response to growing interest in AntShares, and a need for blockchain solutions that meet the requirements of both government regulators and private companies, Da and Erik founded OnChain, a venture-backed company that provides blockchain-based financial services. In 2017, AntShares was rebranded as Neo.
Since its inception, Neo’s OnChain technology was designed to be regulator-friendly with a centralized approach
In concept, Neo is a smart contracts ecosystem, similar to Ethereum. It allows users to automate the storage and exchange of digital assets. NEO Smart Economy consists of three parts: Digital Assets, Digital Identity, Smart Contracts.
Latest news
Jun 27 - Announcement for the release of the Neo-based Trinity State Channel Protocol. The release of the Trinity State Channel Protocol is a milestone in the course of Trinity development. It is a solid step towards greatly improving the throughput of the underlying chain. It makes real-time payment for the main chain assets, low transaction costs, scalability and privacy protection possible. It means that community developers and users are able to become active participants of the Trinity ecology.
“In the next month, Trinity will be deploying it state channel solution for Ethereum. Strategic partnerships with decentraland, etheremon and hyper dragons already in the bag in the Blockchain gaming space. World of Blockchain (WOB) game appearing at NIFTY event on 22-24 July, incubated by Trinity tech!”
Technicals
After a false attempt to restore growth at the end of April, the coin bounced-off from the Bearish Trend Line and followed the downtrend tendency almost whipping out all 2018 gains. Recently the coin did manage to draw promising turnaround pattern in the 0.005 – 0.0055 zone. There are a lot of resistance levels on the way up at this point, but the current pattern could be a good foundation for the rebound and further uptrend. Break-down below the 0.005 level will leave only Global Bullish Trend Line as a support, and dive below this line will cancel the 600% gains of this year and deal an irreparable blow to the coin chart. From the upside, a breakthrough above the Bearish Trend Line and 100-days EMA will be signs of the new growth cycle.
One of the Chinese attempts to takeover Dapps market has been feeling not so good, but lately showing the signs of the possible turnaround. In case of a turnaround, the price looks attractive, especially given the growth of 600% in 2018.
Neo first name was AntShares (ANS), the company was founded in 2014 by Da Hongfei and Erik Zhang and has been referred to as ‘China’s first blockchain platform’. In 2016, supposedly in response to growing interest in AntShares, and a need for blockchain solutions that meet the requirements of both government regulators and private companies, Da and Erik founded OnChain, a venture-backed company that provides blockchain-based financial services. In 2017, AntShares was rebranded as Neo.
Since its inception, Neo’s OnChain technology was designed to be regulator-friendly with a centralized approach
In concept, Neo is a smart contracts ecosystem, similar to Ethereum. It allows users to automate the storage and exchange of digital assets. NEO Smart Economy consists of three parts: Digital Assets, Digital Identity, Smart Contracts.
Latest news
Jun 27 - Announcement for the release of the Neo-based Trinity State Channel Protocol. The release of the Trinity State Channel Protocol is a milestone in the course of Trinity development. It is a solid step towards greatly improving the throughput of the underlying chain. It makes real-time payment for the main chain assets, low transaction costs, scalability and privacy protection possible. It means that community developers and users are able to become active participants of the Trinity ecology.
“In the next month, Trinity will be deploying it state channel solution for Ethereum. Strategic partnerships with decentraland, etheremon and hyper dragons already in the bag in the Blockchain gaming space. World of Blockchain (WOB) game appearing at NIFTY event on 22-24 July, incubated by Trinity tech!”
Technicals
After a false attempt to restore growth at the end of April, the coin bounced-off from the Bearish Trend Line and followed the downtrend tendency almost whipping out all 2018 gains. Recently the coin did manage to draw promising turnaround pattern in the 0.005 – 0.0055 zone. There are a lot of resistance levels on the way up at this point, but the current pattern could be a good foundation for the rebound and further uptrend. Break-down below the 0.005 level will leave only Global Bullish Trend Line as a support, and dive below this line will cancel the 600% gains of this year and deal an irreparable blow to the coin chart. From the upside, a breakthrough above the Bearish Trend Line and 100-days EMA will be signs of the new growth cycle.
Comment:
A lot of high volumes on the 0.006 level. I think there are chances to break the Bearish Trend Line soon.
