The NEIRO meme coin has risen nearly 70% over the past seven days, now approaching a market capitalization of a billion dollars. $NEIRO
's current market capitalization is $718 million and the token is trading at $0.001708.
NEIRO Price Analysis
Recovery has raised its market price by 2.80% in the last 24 hours. On the 4-hour chart, NEIRO's price trend shows an ascending channel pattern as the bullish momentum increases.
The bullish cycle in the ascending channel explains the 83% jump from $0.0009368 to $0.001708 in the past few weeks. The meme coin is now challenging upper resistance.
There is some consolidation near this resistance, with several long-wick candles indicating a higher price bounce. Moreover, price has surpassed the 1.618 #Fibonacci retracement level at $0.001560 based on the previous bearish cycle.
Will NEIRO cross $0.0020?
First Neiro on Ethereum is currently struggling to break through the 2.618 Fibonacci level at $0.00199. If the price manages to overcome this upper resistance, potential targets for the token could be $0.0024 and $0.0027.
However, the 4-hour #RSI is showing signs of a bearish decline as the price stops near the trendline. The #MACD indicator also indicates a potential bearish crossover, with the MACD and signal lines converging.
These technical indicators are signaling a potential pullback. If the bullish breakout fails, NEIRO may find support at $0.001560 and $0.001289.
