The first Neiro on #etherreum has reached a new all-time high (#ATH. ) at $0.0025 following a quick trend reversal. Will this meme coin continue its #BullishMomentum this month?
NEIRO has surged 54% over the past seven days, pushing its market value closer to the billion-dollar mark. On the daily chart, four consecutive bullish candles have led to an almost 100% increase in price.
With bullish momentum building around the first Neiro on Ethereum, the broader market expects the uptrend to persist. Now, as the token trades near its ATH, the potential to reach $0.0030 is growing. Can this bull run continue? Let’s explore further.
NEIRO Price Analysis
On the 4-hour chart, NEIRO broke through the upper resistance line in a descending channel, creating a double-bottom reversal. This bullish recovery, along with a breakout rally, has led to an 85% increase, from the double bottom's base value of $0.001266 to the current market price.
NEIRO 4-Hour Price Chart
After surpassing the previous ATH at $0.0021, NEIRO now tests the 1.272 Fibonacci extension level. Currently, NEIRO is trading at $0.002336, marking a 12.31% increase over the past 24 hours. Additionally, it has reached a new ATH of $0.0025 within the last day.
The increase in buying pressure has led to bullish crossovers in the exponential moving averages (EMAs). All key moving averages are aligned in a bullish direction after a golden cross and a recent bullish crossover in the 50 to 100-day range.
However, the inability to surpass the 1.272 Fibonacci level at $0.00249 suggests a potential bearish crossover in the MACD indicator.
Will the First Neiro on Ethereum Surpass $0.0025?
Given the Fibonacci levels, a lack of momentum could lead to a temporary sideways trend on the 4-hour chart or a retest of the $0.002160 level or the 100% Fibonacci level. After this retest, a bullish run may likely continue, especially if the broader crypto market remains bullish.
The next price targets for the first Neiro on Ethereum are the $0.00249 level and the psychological mark of $0.0030. In the longer term, the 1.618 Fibonacci level at $0.0051 could also be an achievable goal.
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