🚨 $NEO /USDT – Layer 1 Bounce or Bull Trap? ⚙️🪤
$NEO just bounced +4.04% to $6.96, recovering from a $6.54 dip, but still under key resistance. Is this the start of a new Layer 1 move, or just noise before another drop? Let’s dig in. 👇
📊 Market Overview
📍 Current Price: $6.96
📈 24h High: $7.30
📉 24h Low: $6.54
🧠 RSI(6): 35.02 – Mildly oversold, climbing from the bottom
🔹 MA(7): 7.10
🔹 MA(25): 6.95
🔹 MA(99): 6.59
🔸 Volume (NEO): 1.45M
🔸 Volume (USDT): 10.13M
📊 Current Vol: 78,287.53
📈 MA(5): 62,976.76
📈 MA(10): 63,254.72
📈 NEO Trade Setup – Watch This Zone Closely
🔹 Bullish Scenario (If NEO Holds Above $6.90):
Entry: $6.96–$7.05
Targets: $7.30, $7.55, $7.80+
Stop-Loss: $6.60
🔻 Bearish Scenario (If NEO Falls Below $6.60):
Entry: Below $6.60
Targets: $6.25, $6.00, $5.85
Stop-Loss: $7.10
🔍 Hold or Sell?
✅ NEO trading above MA(25) and near MA(7) = consolidation zone
⚠️ RSI < 40 suggests weak trend strength — still indecisive
📉 Rejection at $7.30 again could trigger a drop back to $6.50
💡 Pro Tip:
🎯 If NEO breaks $7.30 with strong 1H candle + RSI > 45, it could retest $7.80 quickly
🚫 No momentum? Expect sideways chop or fade back to 6.50–6.20 support
📢 Are you stacking NEO or sitting this one out? Share your trade thesis below!
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