NEIRO Price Forecast: SHIB Rival reaches Top 100 After Record High
NEIRO, a meme currency competing with SHIB, entered the top 100 cryptocurrencies by market cap with a new high.
Whale activity is pushing NEIRO up at $0.00200118.
Whale investors have bought 29.1 million NEIRO coins in three days, indicating institutional interest.
This accumulation has driven the coin's price higher, setting it for greater gains if resistance levels are broken.
NEIRO's rising wedge pattern suggests consolidation or a retreat in the near term, despite the positive trend. A recent top and modest retracement around $0.00220188 provide immediate resistance.
If the price breaks above this level, $0.00240693 and $0.00266475 may be objectives for a rally.
However, momentum loss may cause a retracement. The nearest support is $0.00172226, followed by $0.00166388 and $0.00154557.
Whale Accumulation Improves NEIRO Price.
Whale activity drove NEIRO's price rise. Famous investors like GSRMarkets have acquired 15 million NEIRO coins, increasing their holdings from $939,000 to $1.17 million.
Further proving NEIRO's potential, addresses like 0xa1d and 0x00d have made noteworthy transactions.
Over the previous nine hours, bwecapital.eth withdrew 4.065 million NEIRO, worth $298,000, from Bybit, indicating substantial investors' buildup.
Large purchases imply that institutional and whale investors anticipate long-term potential in NEIRO, especially as the coin acquires market awareness.
Strong whale interest has supported NEIRO's price surge and will likely drive additional increase in the coming weeks.
NEIRO Technical Outlook: Consolidation?
Technically, NEIRO is retracing after achieving a new high. Support comes from the 50-day EMA at $0.00166388, which is firm.
With an RSI of 63.70, NEIRO is nearing overbought. Although there is possibility for growth, traders should be wary of a short-term drop.
If the RSI stays over 70, consolidation may be needed before another rise.
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