NEO Is Rolling Back on Low Demand
Neo (NEO) is down 5.2% to $6.42 this week, underperforming the crypto market benchmark Bitcoin (BTC), which rose 1.5% to $110,737. The token is moving largely in line with broader market sentiment, where concerns about a cooling U.S. economy dominate. The latest JOLTs report showed job openings at their lowest since January 2021, pushing bets on a Federal Reserve rate cut in September up to 97.6%. However, expectations for further easing beyond September remain uncertain.
NEO’s reaction to the data was muted. Prices briefly climbed 5.3% to $6.68 before slipping back, signalling weak demand. The altcoin continues to move inside a multi-month range of $5.00–$7.50, with no signs of breaking out. The $5.00 level has never been breached historically, so holding that support remains key for avoiding deeper downside.
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