What will happen to $NEIRO next?
The current situation is that the price of this coin has been falling. It is now about 0.001419, and it has fallen by 7.59% in the past 24 hours. Moreover, from the perspective of EMA (7) and EMA (25), the short-term moving averages are below the long-term ones, which shows that the market is now quite weak.
The trading volume has been less recently than before, which shows that the market has become less lively, the pressure on sellers has been reduced, but there are not enough buyers.
In terms of price, it now has a low point support, about 0.00139175. If it falls below it again, it may have to fall further. In order to rise, it has to break through those moving average resistances, such as EMA (7) of 0.00155586 and EMA (25) of 0.00171661.
If the Federal Reserve cuts interest rates, it will be a good thing for our crypto market, because with more money, some people may run from the traditional market to the crypto market. For NEIRO, this may cause it to rise a little in the short term. But if the market sentiment is still bad, it won’t rise much.
Christmas is coming, and the market may have a holiday trend. Some people will take advantage of the holiday atmosphere to make a profit and push the price up, but some people may withdraw, so the trading volume will be less and the price fluctuation may be greater.
So, let’s look at it this way:
Keep an eye on the support level to see if it can hold up. If the price can break through EMA (7), it may be the beginning of a short-term rebound, and you can consider going in to make some money. The trading volume is also very important. If the trading volume is large, the rebound may be more lasting.
NEIRO may rebound in the short term due to the Fed’s interest rate cut and the Christmas market sentiment. But the overall downward trend has not changed. We have to watch the changes in the support level and trading volume carefully and don’t rush in blindly.
For the next layout direction, I will lead everyone to aim at the profit opportunities of cottages. There is no problem with the expected space of more than 10 times. Like + leave a message, and I will lead you to layout the entire bull market!