đš NeiroEth/USDT: Further Insights on the Ongoing Trade đš
đ As we monitor the NeiroEth/USDT pair, itâs important to note this analysis serves as further guidance on a trade already in progress. Letâs break down the recent developments:
Key Observations:
1ïžâŁ Daily Support at $0.058:
Three days ago, buyers rejected the strong daily support around $0.058, marking this level as a critical point for price action.
2ïžâŁ 12-Hour Time Frame Analysis:
A hammer candlestick formed, followed by two green candles, signaling buyers entering the market.
However, sellers have pushed back with almost five consecutive 12-hour candles yet failed to cover the gains made by the two bullish candles.
This demonstrates seller exhaustion and confirms their weakening momentum.
Current Expectation:
đ Potential Pullback to $0.05707:
A retracement to $0.05707 (where the bullish hammer previously formed) could offer a fresh entry for buyers and restore investor confidence.
đ Daily Stochastic Oversold
The stochastic oscillator is now in the oversold zone, so watch for signs of slowing momentum as the price tests support
Final Thoughts:
The buyers remain in control despite seller attempts to push the market down. A successful reaction at $0.05707 could pave the way for a stronger bullish rally. Monitor this level closely for potential confirmation.
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