$NEO is trying to breathe—but the structure still says downtrend.
The daily chart is locked inside a clean descending channel. Lower highs. Lower lows. No confusion there.
Price is bouncing from the 2.40–2.55 support zone, and yes, buyers are defending it. But let’s be clear—a bounce inside a channel is not a reversal.
The real line that matters is channel resistance.
Until it $NEO breaks and closes above it with strength, this is just relief inside a broader bearish structure.
If rejection comes near resistance, continuation lower becomes the higher-probability path.
If a breakout happens with volume expansion, then we can start talking about a structural shift.
Right now?
Trend control is still with sellers.
I’m watching the reaction at the resistance very closely. That’s where the real decision will be made.
Stay sharp.
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