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Neiro Ethereum Price Prediction: NEIRO Soars 136%

Neiro Ethereum Price Prediction: NEIRO Soars 136%

Insidebitcoin2024/07/31 16:07
By:Insidebitcoin
 

The Neiro Ethereum price surged 136% in the last 24 hours to trade at $0.1194 as of 06:54 a.m. EST on trading volume that skyrocketed 54% to $55 million.

This comes despite independent blockchain sleuth Wazz posting a public warning that the token is a honeypot on July 28.

 

There has been a deluge of Neiro meme coins launched since the owner of Kabosu, the late Shiba Inu canine who birthed the Dogecoin meme coin and thus the entire meme coin sector, announced the adoption of a new Shiba Inu dog called Neiro.

Kabosu passed away in May, but its Japanese owner announced on July 27 a “new family member,” leading to an influx of tokens based on Neiro.

Neiro Ethereum Price To Continue Rallying

The Neiro Ethereum price has been in a tear since its launch and has been up 435% from the start of July 30, according to data from GeckoTerminal .

However, the token then went through a ranging phase, consolidating within the $0.10 and $0.12 levels, forming a bullish flag pattern. The bulls aim to capitalize on the flag to push the token up as NEIRO trades above both the 50-day and 200-day Simple Moving Averages (SMAs).

The Relative Strength Index (RSI) is dropping from the overbought region towards the 50-midline level, currently at 58, an indication that sellers have the upper hand.

Neiro Ethereum Price Prediction: NEIRO Soars 136%  image 0 Neiro Ethereum Price Prediction: NEIRO Soars 136%  image 1 Neiro Ethereum price Chart Analysis Source: GeckoTerminal.com

Based on the Neiro Ethereum price analysis on the 15-minute chart, NEIRO is on strong bullish momentum. Investors could capitalize on the bullish flag to continue with the bullish stance, pushing NEIRO to the current target and a new ATH at $0.150.

However, if the RSI retraces more due to intense selling pressure, the price of Neiro Ethereum may drop, with $0.0923 and $0.0543 (the 50-day SMA and 200-day SMA) acting as the immediate support levels.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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