【$NEO Signal】Hold off on trading — Weak rebound amid deep imbalance

After a failed volume breakout on the 4H timeframe, the price has fallen back below the EMA20 (2.6626) and is currently in a consolidation with decreasing volume.

🎯 Direction: Hold off

Market data shows that despite a slight increase of 0.69%, key indicators point to weakness. The funding rate (-0.0035%) is negative, but open interest (OI) trend remains stable rather than rising, which does not align with typical short squeeze conditions. The 4H buy/sell ratio hovers between 0.47 and 0.54, indicating that buying strength is not robust.

The most critical bearish signal comes from order book depth. The depth imbalance is as high as 30.38%, and the bid/ask depth ratio (Bid/Ask Ratio) is 1.87, indicating that sell orders (Asks) are far thinner than buy orders (Bids), with heavy selling pressure above. The price is suppressed below the EMA20, and the RSI (41.03) is in a weak zone, showing no strength for a rebound.

Current price action resembles a weak rebound after short covering rather than a major accumulation by large players. Until clear buy absorption signals appear (such as a volume breakout above EMA20 accompanied by rising OI), any long attempts carry more risk than reward. Wait for the price to stabilize at the key support zone of 2.55-2.60 or for a volume breakout above 2.67 resistance before reassessing.

Trade 👇 $NEO

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