NEO price analysis: NEO/USD holding ground above $70: Lithuania Central Bank prefers dialogue between commercial banks and cryptocurrency market players
|- “Blind denial, reluctance to understand and to work with the cryptocurrency world leads nowhere,” Jekaterina Govina.
- The 100 SMA and the 200 SMA are showing bullish signs; while the 61.8% Fibo offers resistance to the upside.
NEO price is up 3.34% in the last 24 hours on Thursday as it attempts to correct higher towards the short-term resistance level t $75.00. The price has been trading higher highs and higher lows in the past one week, although it is lacking enough momentum to retrace towards $80.00 level.
The investors are slowly warming up to the cryptocurrencies in the market and a slightly bullish trend is returning pushing the digital assets to correct higher and achieve higher consolidations. The Central Bank of Lithuania has broken the silence saying that ignoring the cryptos will not solve the issues that exist. An official from the central bank, Jekaterina Govina, fintech strategy coordinator said:
“Blind denial, reluctance to understand and to work with the cryptocurrency world leads nowhere,” and added, “We gathered people from the banking sector, ICO people, FNTT officials and others and started talking. It’s necessary that banks speak to those who have carried out an ICO or those who convert cryptocurrencies into conventional money. A dialogue has been established and it remains to be seen where it will lead us,”
NEO price technical picture
The upside has been capped below $75.00 as mention earlier, which has led to a brief slide testing the $70.00 support level but not breaching it. There is a bullish momentum that is forming close to $72 while the 61.8% Fib retracement level with the last swing high of $91.5 and a low $44.5 is offering resistance to the upside. The 100 SMA and the 200 SMA are showing bullish signs as they bend upwards while the gap between them narrowing to show that the buyers have the market influence. There is a short-term support at $70.00 but a major support level is highlighted at $65.00.
NEO/USD 240’ chart
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