#NEIRO on the Edge of a Massive Rally | Key Levels to Watch
NEIRO/TETHERUS Binance
Yello, Paradisers! Has #NEIROUSDT finally broken free or is this a potential trap? Let's look at the latest analysis of #FirstNeiroOnEthereum:
#NEIRO has broken out of its falling wedge-a classic bullish setup- after bouncing off the critical demand zone at $0.00166. This is a promising development, but caution is crucial. There's a strong possibility the price could revisit this support zone before making its next move.
For the rally to stay alive, the price must conquer the immediate resistance at $0.00197. This is a critical level to watch. If the bulls manage to push through this hurdle, especially with rising volume and support from the 50EMA, it could signal a sustained bullish momentum and open the door for a stronger surge. However, the breakout must be clear and convincing to inspire confidence.
If the bullish momentum falters, a pullback is likely. This could see the price revisiting the breakout zone or even testing the demand area at $0.00166 again. Should this support fail, the next key level to monitor lies at $0.00151.
A break below $0.00151 would shift control back to the bears, paving the way for a deeper correction and diminishing short-term bullish prospects.