NEO is Likely to Deteriorate towards $7.50
Neo (NEO) is rising by 2.5% to $9.68 this week, though the token was 10.0% higher at $10.35 on Thursday. The failure to hold above the $10.00 support level is quite disappointing and indicates continued downward pressure. Currently, NEO is in a downtrend, pushing it towards the next significant support level at $7.50.
Bitcoin (BTC), which initially gained 5% this week, has since lost most of those gains, providing no support from the general crypto market. The broader market's lack of bullish momentum and the inability of NEO to maintain critical support levels suggest that bearish sentiment may continue to prevail.
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