In this updated $NEIRO /USDT chart, we can see some signs of a potential recovery attempt. Let’s analyze the key elements and what they might imply for the near future:

Key Observations:

1. Current Price Movement:

The price has moved back up slightly to $0.00149623, showing a minor bounce from recent lows.

This could indicate a temporary support or an attempt to reverse the downtrend, but it's still below previous key levels.

2. Moving Averages (MA):

MA7 and MA25 have converged at similar values, which may suggest consolidation or indecisiveness in the short term.

The price is approaching MA99 ($0.00181676), which may act as a resistance. Reclaiming MA99 would signal some strength, while rejection could indicate continuation of the downtrend.

3. Support and Resistance:

Immediate resistance lies around $0.00160432 and $0.00181676 (near the MA99 level).

If the price fails to break above these resistances, the next major support level remains at around $0.00076019.

4. Trend Indicators:

The price is still below the previous high of $0.00233333, showing that the larger trend could still be bearish unless there’s a significant breakout above current resistances.

A stronger upward push would need to break above $0.00160432 and maintain above the MA99.

Future Analysis:

Bullish Scenario:

If the price continues to rise and breaks above $0.00160432, it could signify that buyers are regaining control. A successful close above MA99 would confirm a possible trend reversal, with further targets near $0.0020.

Bearish Scenario:

If the price fails to break above the MA99 and the $0.00160432 resistance, it may signal a continuation of the downtrend.

In this case, the price might retest the lower support level around $0.0014, and if that fails, potentially drop to $0.00076019.

Conclusion:

The recent slight recovery could be a short-lived bounce unless the price can break above critical resistance levels, especially the MA99. A breakout above the resistance could open up a bullish path, but without it, the bearish trend may continue. Watch for volume and price action near these key levels for confirmation.

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