First Neiro On Ethereum Price: NEIRO Surges 34%, But Investors Flock To This PEPE 2.0 For Parabolic Gains
Release: 2024/09/23 16:09 Reading: 790
First Neiro On Ethereum Price Soars
The First Neiro On Ethereum price has seen a remarkable surge of 2,949% in the past week and 34% in the last 24 hours. As of 12:30 a.m. EST, it trades at $0.001108, with trading volume skyrocketing 70% to $318 million.
Technical Analysis Indicates Bullish Reversal
The NEIRO/USD 4-hour chart suggests a potential bullish reversal. After consolidation, the price has made a sharp upward move, forming a parabolic curve indicative of strong bullish momentum.
Trading around $0.001108, NEIRO has broken above the 50-period simple moving average (SMA) at $0.0006522, while the 200-period SMA trails slightly below $0.0002045. Breaking above the support level of $0.0007645 has driven the price up by 60%.
Moving Averages Signal Strength
The 50-SMA now acts as a potential support, stabilizing the price during pullbacks. The 200-SMA, though still trending downward, hints at a strengthening long-term bullish trend.
Momentum Indicators Suggest Further Upside
The Moving Average Convergence Divergence (MACD) indicator remains bullish, trading above neutrality. The MACD average line is significantly below the signal line, and the diminishing histogram bars indicate increasing momentum.
The Relative Strength Index (RSI) is at 79.03, rebounding from the 50 midline into overbought territory, indicating intense buying pressure. However, caution is advised as this may signal fading buying pressure and a potential retracement or consolidation in the short term.
Support and Resistance Levels
Support levels include the recent low of 0.0007645 and the rising 50-SMA. Resistance lies around 0.001456, where selling pressure may emerge. While the momentum is currently bullish, the overbought RSI suggests potential volatility.
Price Prediction
The target price is estimated at $0.001156, assuming the price breaks above the resistance at $0.0009741. This target is based on the reward potential of the ongoing reversal. If the resistance is surpassed, a rally toward $0.001156 is possible.
On the downside, the 200-SMA at $0.0001523 remains a key support during potential pullbacks.
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