π NEO has recently encountered significant market dynamics, currently facing resistance. A breakthrough above this level is crucial for NEO to regain bullish momentum and continue its upward movement towards our target area.
π However, if NEO fails to overcome the resistance and experiences rejection, it may retreat to test support levels around $13.5 or even potentially drop further to the demand area around $10 if the support is breached.
π When NEO reaches the demand area, a bounce is necessary as this level holds significant importance. Failure to sustain the demand zone would signal a bearish sentiment, potentially leading to further downward movement in NEO's price.