The Neiro Ethereum price has gone parabolic with a 61% pump in the last 24 hours to trade at $0.1184 as of 7:05 a.m. EST on a 60% surge in trading volume to $104 million.
Neiro Ethereum Price Rebounds On A Strong Support Level
The NEIRO/USD 4-hour price action shows that the NEIRO is in the early stages of a potential bullish reversal. The price is currently $0.1168, sitting between two key moving averages. The 50-period simple moving average (SMA) is at $0.1275, while the 200-period SMA is slightly below the current price at $0.1144.
This positioning implies that while short-term momentum faces resistance, the long-term trend remains positive, with the 200-SMA providing crucial support.
NEIROUSD Analysis Source: Dextools.io
The rounded bottom pattern also indicates a shift from bearish to bullish sentiment. This reversal pattern formed near $0.0669, marks a key support level where buyers have stepped in, preventing further decline. Additionally, a second support zone is evident between $0.0669 and $0.114, offering a solid foundation should the price retrace in the near term.
Meanwhile, the MACD (Moving Average Convergence Divergence) shows a clear bullish crossover, where the MACD line has moved above the signal line. This is a positive sign of increasing buying pressure for the Neiro Ethereum price. The rising histogram further confirms that momentum is in favor of the bulls.
On the other hand, the RSI (Relative Strength Index) is currently at 61.48, indicating that the NEIRO is trending upward but not yet overbought, providing an opportunity to the bulls to drive the price further upwards.
Neiro Ethereum Price Prediction
The NEIRO price shows a promising bullish outlook, with indicators and chart patterns aligning for a potential upward move. However, the price must break through the 50-SMA resistance before realizing its full potential toward the $0.2012 target.
The price action also highlights a target price near $0.2000, which is a potential upside level if the price breaks above the 50-SMA resistance at $0.1275. This target is based on the reward potential from the ongoing reversal. If the price can surpass the resistance level, a rally toward $0.2000 could be in play.
On the downside, the 200-SMA at $0.1144 is a key level to monitor, acting as strong support in case of short-term pullbacks.
A Supercharged Layer 2 Meme Coin Nears $14 Million
The optimistic outlook for Neiro Ethereum price is mirrored by the excitement surrounding Layer 2 meme coin Pepe Unchained (PEPU), which has rocketed past $13.9 million in funds raised in one of the most successful presales of the year.
Crypto Zeus, a crypto analyst and YouTuber with over 78.4k subscribers, believes that Pepe Unchained âcould be hugeâ following its launch.
Pepe Unchained distinguishes itself by utilizing its own Layer 2 blockchain, and it says its goal is to tackle common issues like slow transaction speeds and high fees found in the original PEPE meme coin.
PEPE uses the Ethereum blockchain, which frequently struggles with these challenges, processing only roughly 15 transactions per second. This limitation can slow down trading and substantially impact profit potential for meme coin traders.
Pepe Unchained â Groundbreaking Layer 2 Blockchain technology.
Welcome to the future of meme coins. đž pic.twitter.com/iC9b6YSynT
â Pepe Unchained (@pepe_unchained) September 6, 2024
To tackle these issues, Pepe Unchained is developing a Layer-2 solution that groups multiple transactions and processes them on the Ethereum Mainnet as a single transaction. This approach allows Pepe Unchained to achieve speeds up to 100 times faster than Ethereum while greatly cutting costs.
The Pepe Unchained Layer-2 solution also holds the potential to become a major platform for meme coin trading. By utilizing the Ethereum Virtual Machine (EVM), developers can build a range of applications on the Pepe Chain.
The project made a splash recently with news of a developer grant announced on X to start building its ecosystem.
With the developer grant rewards, also called âPepe Frens With Benefits,â PEPU is welcoming groundbreaking dApps and other innovations using its new Layer 2.
Developers can simply build their projects, submit a grant application, wait for the Pepe council to vote on it, and, if selected, receive the grant.
Pepe Unchained says its goal for the initiative is to provide ample support for developing tokens and applications on its Layer 2 upon launch.
Pepe's blockchain is charging up!
Get ready as we prepare to unleash something big âĄïžđž pic.twitter.com/RKQIgbRmxV
â Pepe Unchained (@pepe_unchained) September 16, 2024
Investors can also participate through a staking option that provides an annual percentage yield (APY) of 149%. More than 1.07 billion $PEPU tokens have already been staked.
If you are interested in the project, you can buy $PEPU tokens at the current price of $0.00981. Act before a price hike in a little less than 2 days to secure the best deal.
Buy PEPU tokens on the official website here using ETH, USDT, or a bank card.
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