NEO's price surge amidst the crypto market rally: Discover its mission, resilience, and potential

Crypto News: NEO, which is never behind in the 'Smart Economy' race, has experienced a massive surge lately. Recently, NEO's price action has been really interesting; the last 24 hours alone has witnessed a definite and notable increase of 30.83%.

Origins and Evolution:

The NEO project commenced in 2014 when Da Hongfei and Erik Zhang established appropriate premises for AntShares which later took the name NEO in June of 2017. Since the beginning of time, the NEO has been committed to changing digital economics by providing digital identity and asset digitization methods from smart contracts and similar technologies of today. Combined with its dBFT (delegated Byzantine Fault Tolerance) consensus algorithm, NEO differs from traditional mining-based blockchains.

Dual-Token System:

The dual-token mode of Neo contains the NEO and The NEO Gas. As a rule, NEO is used to vote on the development of the network as well as to set a transaction fee, which is paid in GAS tokens. The mutualistic process will encourage holders of NEO to do so, thus increasing the strength and stability of the national system.

Price Performance Over Time:

NEOs price fluctuations have the same tendency as the cryptocurrency market does. A count from the top on January 15, 2018 which was recorded at US$195.95 to the bottom on October 21, 2016 which is US$0.07287 shows a very great difference. Regarding this matter, NEO has not given up despite the difficulties, but rather has shown one after another cycles of maxima and minima by reaching highs and lows.

Current Market Scenario:

In the last few days, NEO's performance can also be traced to how the cryptocurrency market is now in bull mode. While everyone waits for the next Bitcoin halving event scheduled to take place soon, investors are showing increased optimism that is reflected in the bullish trends of the entire market. NEO has profited from the volatile yet optimistic atmosphere where a similar overnight rally would imply that the cryptocurrency industry is experiencing a higher level of confidence and optimism.

Technical Analysis:

A strong upward trend has been seen examining the crypto price chart closely, supported by bullish indicators such as Exponential Moving Averages (EMAs). The market sentiment for NEO is bullish, with dynamic support lines indicating that the overall trend tends to be upward for a period of time. Thus, the important resistance levels where prices may be unable to exceed are in the range of US$23.00 and US$26.00 and the support levels are between US$18.50 and US$15.00

Conclusion:

However, with the latest price rally, NEOs show its resilience, promoting its presence among the list of market leaders. While it stands as the ideals of Smart Economy developing blockchain platform currently, the NEO continues to trail path for digital innovation and is composed of a dual-token system which is the basis of the platform. Dramatic ups and downs in the market place is the biggest and the most long standing obstacle on NEO's road, but it looks like it will be able to keep going and outgrow the difficulties caused by the constantly changing environment.