Neiro surged 856% after being listed on Binance.
The token hit an all-time high of $0.00044012.
Overbought indicators suggest a potential price correction soon.
First Neiro on Ethereum is making headlines after it was recently listed on Binance. After the announcement, Neiro’s price soared by 856% in just one day.
Following this meteoric rise, the coin reached a new all-time high of $0.00044012. Can Neiro sustain this momentum and possibly replicate the success of Dogecoin?
https://twitter.com/CoinDesk/status/1836217915495817640 Neiro’s Price Explosive Growth and Current Position
The Binance listing has fueled an incredible 800% price surge over the past week. As of writing, First Neiro is trading at $0.00040359, with a 24-hour gain of 22.69%.
The token's market cap has skyrocketed to $166.76 million, while its trading volume over the last 24 hours sits at $424.8 million. Although Neiro hit some resistance after its initial spike, it's in positive territory.
The price of First Neiro is above the upper Bollinger Band, indicating strong momentum. However, this position also suggests that Neiro is overbought, which could signal a price pullback soon.
Is a Correction Coming?
Neiro’s Relative Strength Index (RSI) is sitting at 84.63, far above the overbought threshold of 70. An RSI this high typically signals a potential correction as traders might begin taking profits.
Neiro faces strong resistance at $0.0004401, but if momentum continues, it could break past this level. On the downside, the first critical support level sits at $0.00015806.
If Neiro breaks below this point, it could test lower support at $0.00001442. That said, the ongoing market enthusiasm may keep Neiro in overbought territory for longer.
Whether Neiro will replicate Dogecoin’s historic rise remains to be seen. However, the recent gains have certainly drawn attention. Investors should watch out to see if this upward trend will continue.
The post NEIRO Spikes 800% in 7 Days: Will It Replicate Dogecoin’s Success? appeared first on Crypto News Land.
