$NEO is trying to breathe — but the structure still says downtrend.

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 $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 breakout happens with volume expansion, then we can start talking about structural shift.

Right now?
Trend control is still with sellers.

I’m watching the reaction at resistance very closely. That’s where the real decision will be made.

Stay sharp.$NEO ‌