11/NN/SS/TT/AA 👉 trade_withsania

$NEIRO update

Let's take a quick update on Neiro usdt..... Should we short it or wait??

👉EMA Cross: The 9-period Exponential Moving Average (EMA) is above the 25-period EMA, indicating a potential uptrend. However, the price has slightly pulled back after a sharp rise.

👉RSI: The RSI (Relative Strength Index) is at 73.21, which is in overbought territory (above 70). This could suggest that the asset is overbought and might experience a price correction soon.

👉Price Action: The price hit a resistance at around 0.00123000 and is currently pulling back, which might signal an exhaustion of buying pressure.

👉Short Entry Consideration:

Risk: Given that the RSI is overbought and the price is pulling back, it could be an opportunity for a short trade. However, with the EMAs still showing a bullish crossover, it could just be a temporary retracement in an overall uptrend.

Stop Loss: If you decide to short, a tight stop-loss above the recent high (0.00123000) might be prudent in case the uptrend resumes.

👉It's important to keep monitoring the trend for confirmation. A break below the shorter EMA (9) and more RSI divergence could strengthen the case for a short. ⚠️⚠️⚠️Always manage your risk!$TAO $BTC #DODOEmpowersMemeIssuance #BinanceLaunchpoolHMSTR #CATIonBinance #BTCReboundsAfterFOMC