FxWirePro- NEOUSD Daily Outlook

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 referred to as "Chinese Ethereum".

Consensus mechanism- dBFT (Delegated Byzantine Fault Tolerance)

The dBFT is called 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 another 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 target $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.

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