Greater levels of Adoption and Improved levels of legitimacy with NEO/USD RecoveryNovember 20, 2019
NEO beats the market with 5% gains. The token has a current market capitalization of $839 million, eventually having the token climb from the 17th to the 16th position in the cryptocurrency market. NEO/USD has been changing hands at $11.90.
The $11.10 provides for strong support, and the SMA200 reinforced it. It is likely for the sell-off to continue towards the next psychological barrier at $10.00. The next support level is created by the confluence of SMA50 and SMA100 at $9.30.
The NEO/USD recovery is capped by $12.00. The psychological range is at $13.00, and the upper line of the Bollinger Band is at $12.92. It is likely for new short-term sellers to attract new barriers. However, sooner the barrier is broken, the recovery might gain traction with the focus near the recent high at $13.40.
NEO is the biggest of the single-digit gainers in the market. There has been a formation of the short-term falling wedge pattern, which has been fruitful for the NEO. The breakout pattern above the resistance opened the doors for the NEO bulls to explore a return above $13.00. After stepping above 100 SMA on the 4-hour chart resistance, the NEO/USD has been working near the $12.00 ranges.
The RSI has been making its entrance into the overbought range. Near the region above 70. If there is a continual movement towards the north of the RSI, then the bullish position will be cemented in the market. The bulls should find support above $12, which in turn will permit them to focus on beating the resistance towards $13.50.
NEO is launching a blockchain course in St. Petersburg State University of Russia. The academic course will inform students about the components which will make up the NEO ecosystem. The course will also provide general knowledge that is related to the Distributed Ledger Technology (DLT) space.
The official announcement about the course stated that the course would provide insights into the Distributed Ledger overall and particularly about NEO technology. This will, in turn, help students to help build skills in developing the core components of the NEO technology.
There are different software tools used to build a blockchain. The topics covered under this course cover for the consensus algorithms, the NEO smart contracts, and the decentralized applications (DApps).
There have been several reports in the market which talk about the increasing numbers of courses and employment opportunities available in the blockchain space. This is a major point that serves as an indicator of greater legitimacy and wider level of adoption of tokens like the TCAT tokens.