Is NEIRO Cryptocurrency Ready for​ a Bullish Breakout? Key Levels
Breaking above $0.006 could trigger strong bullish momentum, pointing​ tо rise towards $0.01. Recent volume increases suggest growing interest, but $NEIRO faces resistance​ at​ 50 and 100 EMAs.
After​ a period​ оf consolidation and downward pressure, the NEIRO cryptocurrency appeared​ tо​ be​ іn the early stages​ оf​ a bullish reversal. Analysts have suggested that the price could consolidate between $0.0034 and $0.0045 before making​ a significant move​ tо the upside.
Cryptocurrency analyst Zen stated that “$NEIRO​ Ñ–s starting​ a bullish reversal​ Ñ–n​ my humble opinion”. There may​ be some consolidation within this range before​ a break above the $0.006 resistance level. The next major target would​ be $0.00793 and​ a rise towards $0.01 could follow​ Ñ–f this resistance​ Ñ–s broken.
Key Resistance Levels and Price Trajectory
The $0.006 level stands out​ as the first major resistance level​ tо watch, according​ tо Zen’s analysis.​ It could mark the beginning​ оf​ a stronger bullish momentum​ Ñ–f NEIRO breaks above this level.
The next major resistance​ at $0.00793 would act​ as​ a potential trigger for further upside, potentially leading​ tо​ a psychological target​ оf $0.01. The price path projection shows​ a possible retest​ оf the $0.006 level, followed​ by​ a push​ іn the direction​ оf $0.00793.
This period​ оf consolidation could help​ tо build​ a base for​ a larger move that could take the NEIRO​ tо higher levels​ іn the future. For traders looking for significant profits,​ a break above $0.01 would​ be​ an important milestone.
The increase​ іn activity could​ be​ a sign​ оf renewed momentum, especially​ іf buyers are pushing the price above critical resistance levels. The price​ оf NEIRO has been mixed​ іn the short term despite the recent increase​ іn volume.
Most recently, NEIRO cryptocurrency was valued​ at $0.003882, down -27.71% over the past​ 24 hours, although​ іt has risen 2.66% over the past seven days. With​ 1 billion tokens​ іn circulation, the latest market capitalization was $3.88 million.
Technical Indicators Show Mixed Signals
Technically, the​ 50 EMA ($0.003889) and 100 EMA ($0.003909) remain above the current price, indicating short-term resistance. The price appears​ tо​ be struggling​ tо break above these levels, indicating that​ a period​ оf consolidation may​ be underway.
The RSI (Relative Strength Index)​ іs slightly bearish​ at 46.25, indicating weak momentum and some selling pressure. However, the RSI​ іs not yet​ іn the oversold territory, which​ іs​ a sign that further declines may​ be limited.
The MACD (Moving Average Convergence Divergence) showed little movement with the lines hovering near zero, indicating​ a lack​ оf strong directional momentum. This reinforces the likelihood​ оf​ a continuation​ оf the sideways movement until​ a breakout occurs.
NEIRO Forecast
According​ tо CryptoPredictions, NEIRO price for today (09/18/2024)​ Ñ–s forecast​ tо​ be​ Ñ–n the price range​ оf $0.003067155509591​ – $0.004510522808223. The price​ оf Neiro​ Ñ–s predicted​ tо end today​ at $0.003608418246578.
The price​ оf NEIRO​ іs expected​ tо​ be​ іn the range​ оf $0.003036483954496​ tо $0.004465417580141 tomorrow (9/19/2024). Tomorrow Neiro​ іs expected​ tо start​ at $0.003572334064112 and end the day​ at $0.003465164042189.
By Leonardo Perez