Whales doubling down on Neiro: is bullish momentum ahead?
One of the whales swapped out a loss-making position in NEIROETH, selling 17.5 million tokens for $1.22 million.
By exiting, the whale incurred a substantial 55% loss, amounting to $1.49 million, after holding the meme coin for just one month.
In return, the whale doubled down on their investments in NEIRO, purchasing 841.6 million tokens for $1.45 million.
This adds to their total holding of 3.85 billion NEIRO, worth $6.51 million, resulting in a 67% unrealized profit of $2.67 million, according to SpotOnChain data.
Meanwhile, in 1-hour chart, Neiro broke out of symmetrical triangle pattern.
This pattern indicates a period of consolidation as NEIRO seeks stability following a substantial rally.
Most notably, the Relative Strength Index (RSI) remains in positive territory at 52, while neutral, it retains a bullish lean despite a slight slowdown in momentum.
This sentiment is further supported by the Chaikin Money Flow (CMF), currently at +0.05, suggesting that inflows remain moderate.
However, the MACD line has yet to retake its position above the signal line, indicating that bulls have not fully taken control.
Traders should therefore monitor NEIRO’s ability to hold above the 20-day Exponential Moving Average (EMA) as a key support level to confirm a sustained uptrend.
A decisive breakout above the upper resistance of the pattern could extend the growth streak, with an initial price target set at the $0.001878 resistance level, potentially leading to a new all-time high.
From there, a conservative short-term target of $0.0023 seems plausible. However, taking a broader view, deeper analysis cites 10x potential long-term as credible, setting eyes on a $1B market cap.
