Let's talk about how $NEIRO might move next.
The current situation is that this coin has been falling, with the price dropping to 0.00138, and it has decreased by 10.22% in the past 24 hours. Moreover, look at the EMA(7) and EMA(25) moving averages; the short-term one has fallen below the long-term one, which clearly indicates that the market is not doing well.
The trading volume has also decreased compared to before; it feels like the market is not as lively anymore. The pressure on sellers is slightly reduced, but buyers are not very active either.
As for the price, there is currently a support level at around 0.0013622. If it falls below this point, it might continue to drop further. To rise, it needs to break through the resistance of those moving averages, such as the EMA(7) at 0.00155586 and the EMA(25) at 0.00171661, which is not an easy task.
If the Federal Reserve lowers interest rates, it could be positive for our crypto market. With more money available, some people might move from the traditional market to the crypto market. For NEIRO, this could lead to a short-term increase, but if market sentiment remains poor, any rise won't go very far.
With Christmas approaching, there might be some holiday trading in the market. Some people may want to take advantage of the festive atmosphere to push prices up, but there are also those who might pull out, which would reduce trading volume and possibly increase price volatility.
So, we need to look at it this way moving forward:
Keep an eye on that support level to see if it can hold. If the price can break through the EMA(7), it might be a signal for a short-term rebound, and it could be worth considering to get in. Trading volume is also crucial; if the volume increases, the rebound might be more sustainable.
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