NEO (NEO)

Neo is an open-source, community-driven platform that is leveraging the intrinsic advantages of blockchain technology to realize the optimized digital world.

Neo is an open-source, community-driven platform that is leveraging the intrinsic advantages of blockchain technology to realize the optimized digital world. It is often touted as the “Chinese Ethereum.”

Key Highlights

Consensus mechanism: dBFT (Delegated Byzantine Fault Tolerance)

The dBFT is also known as the Delegated Byzantine Fault Tolerant, a Byzantine fault-tolerant consensus mechanism that enables large-scale participation in consensus through proxy voting. The NEO token holder can select bookkeepers and consensus is reached through the BFT algorithm

NEO smart contracts can be developed using programming languages such as C#, Java, and other mainstream programming languages.

It has two native tokens, NEO and Neo Gas

Scalability and throughput:

Transaction per second: 1000

Block time: 15 seconds

NEOUSD showed a minor pullback of more than 5% today.

Any daily close above $25 confirms further bullishness.

NEOUSD surged more than 40% after a massive sell-off. The pair holds above the short-term (21 and 55 EMA) and long-term moving average in the 4-hour chart. It hit a high of $10.61 and is currently trading around $10.37.

The bullish invalidation can happen if the pair closes below $6. On the lower side, the near-term support is $9. Any close below targets $7/$6.

The pair's near-term resistance is around $12.50. Any breach above confirms minor bullishness. A jump to $15/$18/$25 is possible. A surge past $25 will take it to $40.

It is good to buy on dips around $9 with SL around $6 for TP of $25.