The updated chart of $NEIRO shows some significant movements. Here's the analysis:
Observations:
1. Short-term Trend:
The price has broken above the previous resistance level (around 0.0018), signaling short-term bullish momentum.
2. Indicators:
The moving averages (MA) (e.g., MA(7), MA(25)) are starting to diverge positively, suggesting upward momentum.
The price is approaching the top of the ascending channel, which could act as resistance.
3. Volume:
Increased trading volume indicates strong market interest, further supporting recent upward movements.
4. Rounding Top Analysis:
Despite the initial Rounding Top pattern, the breakout above key moving averages invalidates the immediate bearish outlook. The trend is now neutral to bullish.
Future Predictions:
1. Bullish Scenario:
If the price sustains above 0.00193, the next resistance levels are:
0.00214 (top of the channel).
0.00232 (previous high).
2. Bearish Scenario:
If the price fails to hold above 0.00193 or re-enters the lower half of the channel, key supports to watch are:
0.00170 (recent low).
0.00150 (channel bottom).
Strategy Suggestions:
Short-term traders: Consider taking partial profits near resistance levels (0.00214 and 0.00232).
Long-term investors: Watch for sustained breakout above 0.00214 for further bullish confirmation.
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