Will NEIRO continue its rise? What to expect?

Despite the uncertainty in the crypto market, the rises made by memecoins are drawing attention. After Popcat gained momentum, all eyes turned to NEIRO. Claimed to be the new Dogecoin, NEIRO increased by over 600 percent after being listed on Binance's futures.

NEIRO, which touched $ 0.2933 and created an all-time high (ATH), retreated to $ 0.1670 as a result of selling pressure. Coinpedia shared its bullish expectation for NEIRO.

The analysis interpreted the decline in NEIRO as a "healthy correction". It was stated that NEIRO, which rose from the $ 0.020 level, has faced profit sales in recent days. The analysis, which predicts that the bullish momentum will return in the popular memecoin, said the following:

Following the last bull cycle, the #memecoin made a B-shaped comeback by regaining $ 0.1942 with a 725 percent increase. Potential sales increased in NEIRO, which exceeded the 61.80 percent Fibonacci level with the reversal of the trend. These sales caused a decrease of 11.61 percent in the last 30 hours and led to a series of bearish candles on the 4-hour chart.

Coinpedia, which thinks that Neiro on ETH will make a splash in the near future, said in its analysis: “The price action analysis of NEIRO ETH reveals a bottom level of $ 0.16. A possible return after retesting the support level may increase the chances of a bull run in NEIRO.”

If the decline in #NEIRO continues, the price may pull back to the 50 percent or 38.20 percent Fibonacci levels. The price levels supported by the chart correspond to $0.1507 and $0.1207.

The analysis stated that the $0.22 level is important, and has become a significant resistance point as it is the last peak. The analysis said: “#NEIRO is expected to find resistance at the 1.272 or 1.618 Fibonacci levels to reach the all-time high. The Fibonacci levels in question are $0.3470 and $0.4350, respectively.”
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