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  • NEO is among the biggest crypto gainers on Friday.
  • Xi Jinping’s speech inspired crypto enthusiasts.

NEO. 11th digital coin with market value $3.6B has been growing strongly on Friday morning, gaining over 5%. NEO/USD is trading at $55.21 after touching $47.30 low on May 29.  CoinEgg is  the most popular venue for trading NEO against BTC, followed by Binance and  OKEx.

Local support is seen at $52.62, which is 50-SMA (hourly chart), it is followed by $52.20 (200-SMA) and ultimate $50.00. On the upside, the resistance is created by $56.20 (today’s high) and $60.00 handle.

Cryptocurrency community is discussing comments from Chinese president, who sounded pretty enthusiastic about blockchain technologies. Though he retained critical views towards cryptocurrencies, local media is starting to call for a  lift of crypto ban in China.  

“”¦Fencing off bitcoin exchanges can’t effectively end bitcoin trade, and fears of a bitcoin bubble could leave China behind in the digital currency revolution,” agues Chinese Global Times in an opinion article published on Thursday.  

The market wants to be regulated, not banned, to ensure technical advance and secure economic benefits that come  along with innovations.

NEO/USD, the hourly chart