Why NEIRO Rebound Could Come Sooner Than Expected
As BeInCrypto observes, the first Neiro (NEIRO) rebound on Ethereum may occur, highlighting the easing of selling pressure. On November 12, the price of NEIRO surged to $0.000030.
However, at press time, the price has dropped to $0.0020. But this On-chain analysis Suggesting that the meme coin may not drop much lower than this.
First Neiro on Ethereum sees bullish sentiment
On November 12, NEIRO Daily was launched Profit amount More than 16 billion. This indicator measures the number of tokens in realized profits. Usually, when the value increases, it means that the holders made a lot of gains, and the price may decrease.
On the other hand, a decline in this indicator means that selling pressure has decreased. As of this writing, on-chain realized gains have dropped to 2.31 billion. This drop indicates that most NEIRO holders have stopped booking profits.
If it continues, A NEIRO rally could happen In the short term. Specifically, a potential rally could see the price surge above $0.0025, as high demand for the coin typically results in double-digit gains.
Additionally, NEIRO’s weighted sentiment, which measures market participants’ overall sentiment toward cryptocurrencies, is surging. one Emotions are high Indicates an increase in bullish comments, while a decrease reflects negative market sentiment.
Currently, NEIRO’s weighted sentiment is close to positive, suggesting that market sentiment may be turning bullish. If this trend continues, it could increase demand for cars same cornermay push up the price of NEIRO.
However, continued optimism and accompanying trading activity will be critical for this momentum to translate into meaningful price gains.
NEIRO Price Forecast: A significant increase is coming
On the 4-hour chart, bulls appear to be defending the support at $0.0020. The last time this happened, the price of NEIRO increased to $0.0029.
If the meme coin wants to repeat this pattern, it will have to contend with resistance at $0.0022. Therefore, if buying pressure increases, NEIRO’s rally may be validated. If this is the case, then Meme Coins May Be Valued Beyond$0.0030.
However, this prediction may not come true if profit-taking comes into play again, or if loss-making holders sell. On the contrary, the coin may drop to $0.0017.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
