🚨 NeiroEth/USDT: Further Insights on the Ongoing Trade 🚨

📊 As we monitor the NeiroEth/USDT pair, it’s important to note this analysis serves as further guidance on a trade already in progress. Let’s break down the recent developments:

Key Observations:

1️⃣ 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.

2️⃣ 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:

👉 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.

👉 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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