Tether Partners with Georgia to Launch GELT Stablecoin Pegged to Lari
- Launch of GELT Stablecoin: Tether is preparing to launch GELT, a stablecoin pegged to the Georgian lari, in partnership with the Georgian government, aiming to support cross-border trade and digital payment systems, marking a significant advancement in Georgia's digital asset landscape.
- Accelerated Legal Framework: The Georgian government is expediting the establishment of a legal framework for digital assets and stablecoins, with GELT's launch adhering to newly introduced regulations that ensure compliance with reserve management, redemption rights, and anti-money laundering standards.
- Strengthening Financial Infrastructure: Natia Turnava, Governor of the National Bank of Georgia, emphasized that this partnership will enhance Georgia's digital financial infrastructure, promoting a transparent and interconnected financial ecosystem that boosts the country's international competitiveness.
- Market Attention and Future Outlook: The launch of GELT is closely watched by the digital asset community, as it is expected to boost digital transactions in Georgia while serving as a model for other countries seeking to modernize their digital payment infrastructure, thereby driving broader adoption of stablecoins.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0235 | 0.0279 | 0.032 | 0.0364 | 0.0405 | 0.0449 | 0.049 |
| Fibonacci | 0.0279 | 0.0311 | 0.0331 | 0.0364 | 0.0396 | 0.0416 | 0.0449 |
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