$NEIRO
liquidation on #NEIRO at a specific price, indicating strong downward pressure. To find potential resistance levels where the price may encounter selling pressure or slow down, you’d generally want to check key historical levels, Fibonacci retracements, and recent trading patterns. Here’s a rough guide:
1. Previous Support Now Resistance: The $0.002006 level itself could act as resistance, especially as it's where the liquidation occurred. Traders may view this level as an upper bound in the near term.
2. Moving Averages: Check for moving averages like the 50 or 200 MA on higher time frames (4-hour or daily). If these are above the current price, they can act as dynamic resistance zones.
3. Fibonacci Retracement Levels: If you have a recent swing high and low, using a Fibonacci retracement can give likely resistance areas such as 23.6%, 38.2%, and 61.8% levels.
4. Volume Profile: Areas with high volume previously, like consolidation points above the current price, can act as resistance since they indicate price levels where significant trading occurred.
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