On October 8, 2024, Lao A conducted an in-depth analysis of the price trend of $NEIRO .
K line shape analysis:
The recent K-line chart has shown an obvious upward trend, especially between October 6 and 8, the price continued to rise, climbing all the way from 0.00096098 to 0.00166996. It is particularly worth noting that the K-line on October 7 and 8 formed a long upper shadow line, which indicates that there is some selling pressure at the high level, but the overall price still remains strong.
Interpretation of technical indicators:
The MACD indicator may currently be in the bullish zone, and its fast and slow lines continue to diverge upward. The current value of the RSI indicator is 75.38, which has entered the overbought range, which may bring some callback pressure in the short term. However, if the RSI remains high for a sustained period, it will further confirm a strong uptrend. In terms of EMA, the current price has exceeded EMA(7) and EMA(30) and is far away from these moving averages, showing strong upward momentum. In the future, we need to pay close attention to whether the price will step back to these moving averages to confirm support.
Volume observation:
The trading volume on October 7 showed a significant increase, reaching 465,363,729,570, which shows that market activity has increased and there are obvious signs of capital inflows. Although the trading volume on October 8 has decreased, it still remains at a high level, which reflects the market's high recognition of the current price.
NEIRO’s 24-hour price trend analysis:
Overall, the price of NEIRO is on the rise.
Suggestions for buying and selling points:
As for the buying point, the first suggestion is to enter the market near 0.001500 USDT, because this price is close to the previous integer support level and may attract buying orders. The second buy point is set at 0.001450 USDT, which is a further pullback into stronger support areas and also close to the EMA (30).
For the stop loss point of the long strategy, it is recommended to set it at 0.001420 USDT. If the price falls below this position, it indicates that the short-term trend may weaken.
Regarding the selling point, the first recommendation is to exit at the round-number pressure level of 0.001800 USDT after the price breaks out of the recent high, as selling pressure is likely to occur here. The second selling point is set at 0.001850 USDT, which is the price when the price further rises to the next integer mark, and there is a greater risk of profit taking. For the stop loss point of the short selling strategy, it is recommended to set it at 0.001880 USDT。