Whale Buys $1.53M as NEIRO Jumps 215% What Next?
The NEIRO price has fallen 14% in 24 hours to $0.001038 while the cryptocurrency market falls 0% today.
The Ethereum-based meme currency has exploded since Binance listed it on September 15, rising 21% in a week and 3,000% in a month despite this setback.
A whale bought $1.53 million of the currency this week, despite its recent decline.
If other exchanges list the new alt, more rallies are likely.
Whale Buys $1.53M as NEIRO Jumps 215% What Next?
After falling yesterday, the NEIRO price is likely to rise again.
Its price has gone below its 30-period moving average (orange) and is set to rebound off its support level (green), which has climbed strongly this week.
It's also intriguing that NEIRO's 30-period average has been below the 200-period average (blue) for two weeks, suggesting the coin has been undervalued for too long.
With NEIRO's relative strength index (purple) unable to get above 50, where it would gather momentum, a comeback seems uncertain.
However, whales began buying meme coins again this week, with one purchasing 17.71 million NEIRO.
One more whale has invested $2.96 million in NEIRO, signaling that the currency will rise shortly.
Since it hasn't listed on many big exchanges, NEIRO may soon see additional favorable rallies.
The Binance statement showed that further significant listings would boost it.
The fact that Neiro has emerged as a new significant meme coin coincides with a cryptocurrency market revival is positive.
This started last week when the Fed cut its funds rate by 0.5%, boosting market mood.
With two additional cutbacks planned this year, NEIRO might be expensive.
It may reach its ATH of $0.001327 by mid-October and conclude the year at $0.0025.
