NEO Technical Analysis Feb 23

The NEO price is currently positioned near a critical support zone at the $2.67 level, with a short-term downtrend prevailing. If buyers do not step in upon testing the $2.6383 support, the risk of a liquidity grab towards $2.4160 increases.

Current Price Position and Critical Levels

NEO has sustained its downtrend with a 24-hour drop of %1.66, closing the daily candle at the $2.67 level. The price remains below EMA20 ($2.85), and with RSI at 37.44 approaching the oversold region, it is giving a bearish Supertrend signal ($3.13 resistance). On the 1D chart, the recent range is squeezed between $2.56-$2.73, but multi-timeframe (MTF) analysis has identified 12 strong levels: 2 supports/2 resistances on 1D, 1 support/3 resistances on 3D, 2 supports/4 resistances on 1W confluences. In this structure, the price is attempting to stabilize at the $2.6383 support block; this is a liquidity pool reinforced by both an order block and the previous swing low. Volume remains low at $3.68M, which could signal consolidation where big players are accumulating positions. The breakout direction will be decisive: Rejection above $2.6820 extends the downside, while a break below $2.6383 could trigger a stop hunt.

Support Levels: Buyer Zones

Primary Support

$2.6383 (Score: 71/100) – This level stands out as NEO’s most critical buyer zone. Reasons: On the 1D timeframe, buyers entered with strong wick rejections (volume spike +%40) in the last 3 tests, and it coincides with the 3D order block. When the price reaches here (recently down %1.2 from $2.67), liquidity accumulation potential is high; ideal point for stop-loss hunting. MTF confluence: Aligns with 1W Fibonacci 0.618 retracement, held 4 times in the past (before 2025 Q4 rally). Invalidation: Daily close below $2.60, in which case it accelerates to $2.4160.

Secondary Support and Stop Levels

$2.4160 (Score: 63/100) – Secondary support, a deeper demand pool. On the 1W timeframe, at swing low (September 2025) and EMA50 ($2.42) confluence, with positive delta in volume profile (buyer imbalance). This is a liquidity zone for big players’ long accumulation; if $2.6383 breaks, expect %9.5 drop to here. Stop level: Below $2.40, activates downside target $1.7534 (score 22/100), R/R ratio 1:2.5. Historical tests: 2 bounces, 1 break (2024 bear market).

Resistance Levels: Seller Zones

Near-Term Resistances

$2.6820 (Score: 71/100) – Closest seller zone, just %0.5 above current price. Reinforced on 1D by recent high wick and EMA20 ($2.85) approach; volume rejection with %25 drop formed a bearish pinbar. Ideal for short-term shorts; false breakout risk (liquidity grab) if price reaches here. MTF: Aligns with 3D resistance cluster, 4 rejections out of 5 tests.

Main Resistance and Targets

$2.9887 (Score: 60/100) – Main resistance block, gatekeeper before upside target $3.6330. 1W supply zone (November 2025 peak), Fibonacci 0.786 extension, and Supertrend resistance ($3.13) confluence. Seller dominance in volume (%35 imbalance); if broken, opens path to $3.6330 (score 45/100). Invalidation: Close above $3.00 signals bullish flip. Upside R/R: 1:1.8 calculated from current supports.

Liquidity Map and Big Players

NEO’s liquidity map shows stop clustering below $2.6383 (near stops at $2.60) and buy stops above $2.6820. Big players (CEX flows) are accumulating long/short in 1D order blocks: $2.4160 demand, $2.9887 supply. High fakeout risk in low volume; if BTC dominance rises, altcoin liquidity gets pulled below $2.6383. FVG (fair value gap) between $2.55-$2.60 is an imbalance area that could pull price there. Overall outlook: Bearish bias, buyers must be tested at $2.6383.

Bitcoin Correlation

BTC is in a downtrend with a %2.53 drop at $66,364 level, Supertrend bearish. NEO correlates with BTC at 0.85; if BTC breaks $65,632 support, NEO gets dragged to $2.4160 (altcoin bleed). Conversely, if BTC breaks above $67,640 resistance, NEO rallies to $2.9887. Watch: BTC supports $64,069 / $60,000 (NEO triggers $2.4160 / $1.7534), resistances $69,419 / $71,129 (NEO $3.6330 catalyst).

Trading Plan and Level-Based Strategy

Level-based outlook: If holds above $2.6383, expect short squeeze to $2.6820, target $2.9887 (R/R 1:2). On breakdown, downside to $2.4160, longs on $2.4160 bounce. Detailed data for NEO Spot Analysis and NEO Futures Analysis. Risk: %1-2/stop, follow invalidations. These levels are dynamic; prioritize MTF confluence.