technical analysis and trade signal for the $NEIRO /USDT trading pair, along with target levels:🔥🚀
Bearish Momentum: The price has experienced a slight decline of 1.85% over the past 24 hours, indicating a short-term bearish trend.
SAR (Parabolic SAR): The SAR level is at $0.00159314, suggesting that the trend is still bearish as the price is below the SAR level.
Support and Resistance:
The price is currently sitting near its low at $0.00156777, which could act as a support level. If the price drops below this level, further downside could be expected.
Support & Resistance Levels:
1. Support Level: $0.00156777 – A key support area. If the price falls below this, the bearish momentum could continue.
2. Resistance Level 1: $0.00159314 – The Parabolic SAR level. If the price breaks above this, we might see a short-term reversal.
3. Resistance Level 2: $0.00167693 – The 24h high. A breakout above this could indicate a trend reversal toward the upside.
Trade Signal & Targets:
Signal: The current bearish momentum suggests the price may continue downward. If it stays below the SAR level, it could be a signal to enter a short position. However, if it breaks above the SAR level, look for potential buying opportunities.
Targets:
Target 1: $0.00155 – A potential continuation of the downtrend if the price breaks below the support level.
Target 2: $0.00150 – A further decline might take the price towards this level if selling pressure increases.
Target 3: $0.00145 – A more significant drop could occur if the bearish trend persists.
Momentum Indicators:
RSI: Currently hovering around 40, indicating that the asset is not yet oversold but could be approaching an oversold condition, which might signal a reversal.
Trade Momentum:
The price is under bearish pressure, trading below the SAR level and testing support. If it fails to break above the SAR level, the downside momentum could accelerate.
Keep an eye on the $0.00159314 resistance. A breakthrough above this could signal a potential shift toward bullish momentum,