$NEIRO

NEIRO/USDT Finding Support Near $0.0016 – Ready for a Bounce?

Entry: 0.0016100

Target 1: 0.0017440 ✅

Target 2: 0.0018185 ✅

Target 3: 0.0019663

Target 4: 0.0021480

Stop Loss 1: 0.0015903

Stop Loss 2: 0.0014500

Technical Analysis (TA):

• Current Price: NEIRO/USDT is trading at $0.0016664, down 0.88% over the last 24 hours, indicating some bearish pressure. The price appears to be finding support near the $0.00161 level.

• Moving Averages (MA):

• MA(7) is at 0.0016718, which is slightly above the current price, acting as near-term resistance.

• MA(25) and MA(99) at 0.0016857 and 0.0016999 respectively are still above the current price, indicating that the overall trend remains bearish. A breakout above these levels would signal a trend reversal.

• Volume: Volume has significantly decreased since the recent drop, suggesting that selling pressure is easing. If buying volume starts to pick up, it could indicate a reversal.

• RSI (Relative Strength Index):

• RSI(6) is at 30.63, close to the oversold territory, signaling a potential bounce.

• RSI(12) and RSI(24) are at 40.11 and 45.06 respectively, suggesting that the bearish momentum is weakening and the asset may be preparing for a reversal.

• Support and Resistance:

• Immediate support is at 0.00161, which has held up in recent sessions.

• Resistance levels to watch are 0.001744 and 0.0018185, which need to be broken to confirm a bullish reversal.

Conclusion: NEIRO is showing signs of stabilizing near its support level, with the RSI approaching oversold territory and volume declining, indicating reduced selling pressure. A break above the short-term moving averages could trigger a rally toward higher targets. However, caution is advised until a clear breakout occurs.