Neo (NEO) experienced a significant loss of 11.0% this week, trading at $14.37, driven by a general correction in the crypto market. Bitcoin, the leading cryptocurrency, also faced a decline of 7.0% to $66,000. While Bitcoin remains distant from its critical support level at $60,000, NEO has slipped below its key support at $15.00 and is now on track to test the $12.50 support level, representing a further potential decline of 12.0%.

Currently, NEO lacks positive catalysts to facilitate a recovery. However, from a technical perspective, the support at $12.50 is robust and may trigger a rebound in NEO prices.