๐จ $NEO /USDT โ Layer 1 Bounce or Bull Trap? โ๏ธ๐ชค
$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? Letโs dig in. ๐
๐ Market Overview
๐ Current Price: $6.96
๐ 24h High: $7.30
๐ 24h Low: $6.54
๐ง RSI(6): 35.02 โ Mildly oversold, climbing from the bottom
๐น MA(7): 7.10
๐น MA(25): 6.95
๐น MA(99): 6.59
๐ธ Volume (NEO): 1.45M
๐ธ Volume (USDT): 10.13M
๐ Current Vol: 78,287.53
๐ MA(5): 62,976.76
๐ MA(10): 63,254.72
๐ NEO Trade Setup โ Watch This Zone Closely
๐น Bullish Scenario (If NEO Holds Above $6.90):
Entry: $6.96โ$7.05
Targets: $7.30, $7.55, $7.80+
Stop-Loss: $6.60
๐ป Bearish Scenario (If NEO Falls Below $6.60):
Entry: Below $6.60
Targets: $6.25, $6.00, $5.85
Stop-Loss: $7.10
๐ Hold or Sell?
โ NEO trading above MA(25) and near MA(7) = consolidation zone
โ ๏ธ RSI < 40 suggests weak trend strength โ still indecisive
๐ Rejection at $7.30 again could trigger a drop back to $6.50
๐ก Pro Tip:
๐ฏ If NEO breaks $7.30 with strong 1H candle + RSI > 45, it could retest $7.80 quickly
๐ซ No momentum? Expect sideways chop or fade back to 6.50โ6.20 support
๐ข Are you stacking NEO or sitting this one out? Share your trade thesis below!
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