Can NEIRO Cross the $0.0020 Threshold?
The $NEIRO meme coin has surged by almost 70% over the past week, inching closer to a billion-dollar market cap. Currently, NEIROUSDT is trading at $0.001708, showing a 39.25% increase, with the market cap standing at approximately $718 million.
NEIRO Price Momentum and Chart Insights
Over the past 24 hours, NEIRO has gained 2.8%, with its 4-hour chart revealing a strong upward momentum. The price is following an ascending channel pattern, a bullish indicator explaining its recent 83% rise from $0.0009368 to its present level. As NEIRO approaches the upper boundary of this channel, it faces some consolidation, signaled by long-wick candles indicating resistance yet with potential for further upward movement.
The coin has surpassed the 1.618 Fibonacci retracement level at $0.001560, hinting at growing bullish sentiment. However, the real challenge lies in overcoming the 2.618 Fibonacci level at $0.00199, which could unlock targets at $0.0024 and $0.0027.
Key Resistance and Indicators to Watch
Despite the strong momentum, technical indicators suggest caution. The RSI on the 4-hour timeframe is signaling potential exhaustion as it approaches the trendline, indicating a possible bearish correction. Similarly, the MACD indicator shows the signal and MACD lines converging, suggesting a potential bearish crossover.
Whatâs Next?
If the price manages to break above the $0.00199 resistance, NEIRO could easily push toward $0.0024 and beyond, igniting more bullish sentiment. However, should the breakout attempt fail, NEIRO may test key support levels at $0.001560 and $0.001289. Investors should closely monitor these levels and keep an eye on market sentiment for any signs of reversal.
In conclusion, NEIROâs ability to cross the $0.0020 mark will depend on its success in maintaining bullish momentum against rising resistance.
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