$NEO 's price has slipped by 0.701% in the past 24 hours, reflecting a continued downtrend.
The recent range of 5.6 to 5.8 indicates a tight trading environment, with strong support holding at 5.6 and resistance at 5.8.
The Bollinger Bands suggest decreased volatility, as the price hovers near the lower band.
Macroeconomic concerns, particularly inflation, could lead to further selling pressure in the crypto market.
Currently, Bitcoin's influence on NEO seems undefined, leading to an unpredictable correlation.
Traders might consider a short-term approach given the current volatility and bearish sentiment.
Ultimately, focus on news that could catalyze a market shift, as these events can create both risk and opportunity.
