Is It Too Late To Buy NEIRO? Neiro Ethereum Price Goes Parabolic With 61% Pump As Pepe Unchained ICO Closes On $14 Million Raised
Release: 2024/09/19 22:59 Reading: 403
Neiro Ethereum Price Surges, Signals Bullish Outlook
The Neiro Ethereum price has experienced a dramatic surge of 61% in the past 24 hours, rising to $0.1184 as of 7:05 a.m. EST. This increase is accompanied by a significant 60% surge in trading volume, reaching $104 million.
Key Support and Resistance Levels
The 4-hour price action indicates that Neiro Ethereum is in the early stages of a potential bullish reversal. The current price of $0.1168 falls between two crucial moving averages: the 50-period and 200-period Simple Moving Averages (SMAs). The 50-SMA is at $0.1275, while the 200-SMA is slightly below at $0.1144.
This positioning suggests that while short-term momentum may face some resistance, the long-term trend remains positive. The 200-SMA acts as a critical support level, providing a solid foundation for the price.
Technical Indicators and Sentiment Shift
The rounded bottom pattern in the chart indicates a transition from bearish to bullish sentiment. This reversal pattern formed near $0.0669, marking a key support level where buyers have prevented further decline. Additionally, a second support zone exists between $0.0669 and $0.1144, offering a safety net in case of a near-term retracement.
The MACD indicator displays a bullish crossover, with the MACD line moving above the signal line. This is a positive sign of increasing buying pressure for Neiro Ethereum. The rising histogram further confirms the momentum in favor of the bulls.
The RSI currently sits at 61.48, indicating an upward trend without reaching overbought territory. This provides an opportunity for bulls to drive the price higher.
Price Prediction
The NEIRO price exhibits a promising bullish outlook, with indicators and chart patterns aligning for a potential upward move. However, breaking through the 50-SMA resistance at $0.1275 is crucial for realizing the full potential towards the $0.2012 target.
A target price near $0.2000 is also in view if the price can surpass the 50-SMA resistance. This target is based on the reward potential of the ongoing reversal.
On the downside, the 200-SMA at $0.1144 is a key support level to monitor, providing strong protection in case of short-term pullbacks.
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