The chart shows the price movement of NEIRO/USDT over the past 14 days based on technical analysis:
Blue line: represents the price movement as it was in a clear upward trend until it reached 0.0022, which is the resistance level (dotted red line).
Dotted red line: represents the resistance level at 0.0022.
Green dotted line: represents the support level at 0.00196.
Dotted purple line: represents the moving average or middle Bollinger Band line at 0.
.002037.
Based on the available data and technical indicators such as Bollinger Bands, RSI, and Japanese candlesticks, the following scenarios can be predicted for the price movement of NEIRO/USDT:
1. Bullish (positive) scenario:
If the price manages to stay above the 0.002037 average line and successfully breaks through the 0.0022 resistance level with strong trading volume, it is likely to enter a new bullish wave.
The price could head towards new higher levels, where it may reach higher resistance levels such as 0.0023 or 0.0024 if the positive momentum continues.
2. Bearish (negative) scenario:
If the price fails to hold above the 0.002037 average and breaks this level to the downside, we may see a continuation of the correction.
In this case, the price may head towards the support level of 0.00196 (green line), and may exceed this support if there is strong selling pressure.
3. Casual scenario (oscillation):
If the price continues to oscillate between the 0.002037 average and the 0.0022 resistance without strong breakouts, the market may be in equilibrium, indicating a short-term consolidation before a breakout in either direction.
Possible scenario:
The sideways (oscillating) or bullish scenario might be the most likely. The price seems to be facing strong resistance at 0.0022, but if it manages to hold above the average line at 0.002037, the price could test higher levels. If it fails to break the resistance, it could continue to oscillate around these levels for a short while before making a clear decision.
Share with me in the comments what is the likely scenario
