First Neiro On Ethereum Price Prediction: NEIRO Soars 13% As Pepe Unchained Rockets Past $19 Million In Presale
Release: 2024/10/13 18:04 Reading: 214
First Neiro On Ethereum Price Skyrockets
First Neiro On Ethereum (NEIRO) has witnessed a remarkable 13% surge in the last 24 hours, reaching $0.1219 as of 6:25 p.m. EST. This price increase is accompanied by a 14% decline in trading volume to $87 million.
Traders Regain Momentum
The NEIRO/USD 4-hour chart displays a bullish reversal signal and a rounded bottom pattern. After reaching a low of $0.05, the price has steadily risen, indicating a shift from bearish to bullish sentiment. This reversal suggests the exhaustion of the downtrend and the onset of a bullish phase.
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NEIROUSD Analysis
Source: Dextools.io
Moving Average Crossover
Further supporting the bullish sentiment is a moving average crossover, with the 50 SMA (blue line) now above the 200 SMA (green line). This crossover confirms the transition from bearish to bullish conditions, increasing the likelihood of continued upward price momentum.
Consolidation Zone and Breakout
Prior to the breakout, NEIRO consolidated between $0.05 and $0.07, serving as an accumulation zone. The breakout from this consolidation phase, coupled with a sharp rally, indicates a continuation of the bullish trend. The potential target for NEIRO's price in the near term is $0.20, signaling a full bullish reversal.
Technical Indicators
The MACD indicator has also turned positive, with the MACD line rising above the signal line, indicating increased bullish momentum. However, the RSI stands at 76.28, suggesting that NEIRO may be overbought. This could lead to a short-term pullback or correction, although in strong uptrends, overbought conditions can persist for some time.
Target of $0.20
NEIRO/USD continues to exhibit strong bullish signals, having broken above the moving average. With a current price of $0.1208, the potential target remains $0.20. However, a minor correction may occur due to the overbought conditions.
Support and Resistance
The consolidation zone between $0.05 and $0.07 now serves as a key support level. A breach below this level could result in a downward trend.
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