Neo (NEO) is down 0.8% this week to $5.56, underperforming the broader crypto market, where Bitcoin (BTC) is up 1.4% to $96,870. NEO recently touched its lowest level since March 2020 at $4.28, before rebounding sharply by 56% to a local high of $6.75. However, this recovery was abruptly cut short amid speculation over large-scale token sales by the Neo Foundation, which pushed prices back down to $5.00.
Despite a generally bullish tone in the crypto market—bolstered by improving sentiment around U.S.–China trade negotiations—Neo remains sluggish. The token has not responded meaningfully to broader positive developments, suggesting weak investor confidence or lingering concerns over token supply pressure.
Under current conditions, a rally towards $10.00 appears unlikely in the short term. While further upside remains possible, token direction is uncertain and all scenarios remain on the table.
