NEIRO hits another low, is it a buying opportunity or increased risk?

Market Overview:

The current price of NEIRO is $0.0009027, with a 24-hour decline of 5.35%, and is approaching an important support zone after continuous declines. The 4-hour candlestick chart shows a persistent drop in price, with short-term moving averages crossing below long-term moving averages, forming a bearish arrangement. The MACD shows increasing bearish momentum, and trading volume has significantly increased, indicating that selling pressure remains strong.

Key Levels:

• Support Levels: $0.0008862, $0.0008725

• Resistance Levels: $0.0009733, $0.0010733

Trading Strategy:

1. Cautious Observation: Before market sentiment shifts, it is recommended to remain on the sidelines to avoid greater losses from hasty entries.

2. Short-term Attempt: If the price stabilizes around $0.0008862, a small entry can be attempted, with a target price of $0.0009733 and a stop-loss set below $0.0008700.

3. Breakout Short: If the price drops below $0.0008862, it may further test $0.0008725. It is advisable to follow short positions with a light position and set a stop-loss at $0.0008900.

Risk Warning:

The current market is dominated by bears, and the overall risk is high. Strict stop-loss measures are required, and caution should be exercised to avoid losses due to further market volatility.