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Neiro Ethereum Price Prediction: NEIRO Plummets 18% As This 2.0 PEPE Zooms Past $9 Million

Neiro Ethereum Price Prediction: NEIRO Plummets 18% As This 2.0 PEPE Zooms Past $9 Million

Insidebitcoin2024/08/16 13:40
By:Insidebitcoin

The Neiro Ethereum price has plunged 18% in the last 24 hours to trade at $0.2041 as of 7:15 a.m. EST on a 34% drop in trading volume to $34 million.

Neiro Ethereum Price Analysis: Bulls Continue Staging A Strong Support Zone

The  NEIRO price is still trading sideways within the bullish channel as the bulls continue to stage a strong support zone. The bears are still determined to push the price below the support zone at $0.1285. However, this support level has proven resilient, allowing buyers to regroup and increase prices. If the bullish momentum picks up well, it could help the bulls drive the price above the channel, triggering a new bull rally that could catapult NEIRO higher.

Neiro Ethereum Price Prediction: NEIRO Plummets 18% As This 2.0 PEPE Zooms Past $9 Million image 0 Neiro Ethereum Price Prediction: NEIRO Plummets 18% As This 2.0 PEPE Zooms Past $9 Million image 1

NEIROUSD Analysis. Source: Dextools.io

NEIRO Ethereum price also faces resistance at the 50 Simple Moving Average (SMA) on the 4-hour chart, coinciding with the bearish trendline within the bullish channel. However, it is relatively above the 200 SMA, giving the bulls a chance to drive the price up above the 50 SMA. This indicates a positive sentiment and diminishing selling pressure for the Neiro price.

Additionally, the Relative Strength Index (RSI) is consolidating with signs of a breakout above the 50 midline level. it is currently at 44 after correcting slightly from the 50 midline level. If the pressure continues, it will continue falling to the 30 oversold level. However, there is a possibility of a rebound that could push the RSI to the overbought region of 70.

Meanwhile, the MACD indicator, although still trading along the neutral level, is also rising, supporting the bullish sentiment for  Neiro Ethereum . The increasing bullish bars and a recent crossover above the signal line have boosted bull traders’ confidence. This means there’s a high chance it could continue the uptrend, favouring the buyers and shifting momentum back to bullish.

Neiro Ethereum Price Prediction- Can The Bulls Overcome The Current Resistance?

The bulls are at a significant decision point near the 50-day SMA. A breakout above this level could push the price beyond the bullish channel, sparking a new rally that might lead to a new all-time high of $0.4568 in the coming weeks.

With backing from technical indicators and moving averages, the Neiro Ethereum price could also reclaim its previous all-time high of $0.2933.

However, if the bears gain control in a converse case, the price could drop to the support level of $0.1550.

Best Promising Alternative To Buy Now?

As traders anticipate a possible bull rally in the Neiro Ethereum price, more investors are buying into a new meme coin called Pepe Unchained (PEPU), which has just zoomed past $9 million in early funding.

An analyst from 99Bitcoins, a prominent crypto channel on YouTube with over 706K subscribers says PEPU is one of the best cryptos to buy now with 100X potential.

PEPU is set to liberate PEPE from the outdated, sluggish layer-1 Ethereum blockchain by operating on its layer-2 network. It aims to replicate the success of its predecessor, PEPE, which has delivered incredible returns to early investors and has become the third-largest meme coin by market capitalization.

With its own blockchain, the project will tackle the issues of the scalability, speed, and efficiency that often plague meme coins deployed on the Ethereum mainnet.

 

Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 218%.

You can buy PEPU tokens for $0.0091265 each on the official website buy widget using ETH, USDT, or a bank card. But hurry as the price is set to hike in less than two days.

Buy PEPU here to lock in the best deal.

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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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