NEO Technical Analysis Jan 24

NEO’s current price is at the $3.66 level, trading near the $3.62 support region. Critical resistance at $3.6947 is just above, with dominant downward pressure.

Current Price Position and Critical Levels

NEO is consolidating at the $3.66 level within the overall downtrend. 24-hour change is -1.61%, with trading volume remaining low at $5.08M. Price is trading below EMA20 ($3.78), signaling short-term bearish momentum. RSI at 43.22 is in neutral territory, no oversold conditions but momentum is weak. Supertrend indicator is bearish and pointing to $4.25 resistance. 11 strong levels detected across multiple timeframes (1D/3D/1W): 2 supports/3 resistances on 1D, 1 support/2 resistances on 3D, 2 supports/3 resistances confluence on 1W. This makes the price squeeze in the $3.62-$3.77 range critical; the breakout direction will determine the trend.

Support Levels: Buyer Zones

Primary Support

$3.4160 (Strength Score: 75/100) NEO’s strongest buyer zone. This level formed as a major demand zone on the 1W timeframe; tested 3 times in the past with strong bounces. High volume profile, supported by order block confluence on the 3D timeframe. If price reaches here, liquidity grab is expected; buyers enter after stop-loss hunting. Historically, around $3.40 has been the base where NEO’s ecosystem updates sparked rallies. Invalidated below with a drop to $3.30, signaling trend reversal.

Secondary Support and Stop Levels

$3.6209 (Strength Score: 68/100), secondary support overlapping the current low ($3.62). On 1D, there’s last swing low and volume spike confluence; price rejected from here. Holding level for short-term buyers, but breakable if volume is low. Consider $3.30 as stop below $3.4160; downside target $2.3856 (score 22/100), which is 1W demand gap and Fibonacci 0.618 extension. Descent to this area triggers major liquidity sweep and new low search. While 1D/1W confluence offers strong hold potential multi-timeframe, overall downtrend risk is high.

Resistance Levels: Seller Zones

Near-Term Resistances

$3.6947 (Strength Score: 76/100), nearest seller zone and current range top ($3.77). Strong supply zone on 1D, rejected wicks in last 24 hours. Confluence with EMA20 ($3.78), hard to break without volume increase. Price action shows pinbar rejection and order block rejection; ideal short entry for liquidity grab.

Main Resistance and Targets

$3.9027 (Strength Score: 62/100) mid-term resistance, 3D swing high and 50% Fib retracement. Applied strong selling pressure in 2 historical tests, high supply on volume profile. $4.9542 (Strength Score: 65/100) main target and upside potential; 1W supply block, confluence with Supertrend $4.25. Volume and BTC support required for breakout; otherwise fakeout risk. Movement above invalidation to $5.20 signals trend reversal. These levels are where big players defend short positions; liquidity pools above stops.

Liquidity Map and Big Players

Big players (smart money) are hunting liquidity below $3.62; may sweep down targeting retail stops. Upper $3.77-$3.90 range is sell-side liquidity, trap for short squeeze post-breakout. Per order flow, $3.4160 demand block is defended by institutional buyers (CEXs); imbalances point here. High manipulation risk with low volume, 1W equal highs/lows may pull liquidity to $2.38. Price rejections (wicks) strong at $3.69 resistance, downward continuation likely.

Bitcoin Correlation

BTC at $89,808 in downtrend, -0.09% 24h drop pressuring NEO. BTC supports $88,400 / $86,642 / $84,681; break sends NEO below $3.41, correlation 0.85%. Resistances $91,192 / $92,961; BTC rally lifts NEO to $3.90. BTC Dominance bearish Supertrend cautious for altcoins; NEO/BTC in falling channel, BTC below $84k scenario activates $2.38 target. Follow NEO Spot Analysis and NEO Futures Analysis.

Trading Plan and Level-Based Strategy

Level-based outlook: Above $3.6947 bullish (targets $3.90-$4.95, stop below $3.62), below bearish ($3.41 test, then $2.38). R/R ratio upside 1:2.5, downside ~1:3. Wait for confluence: volume + MTF rejection. This analysis is not investment advice; do your own research. Risk management: Position 1-2% capital, use trailing stop. Retest confirmation required on breakouts.