NEIRO: The Memecoin That Could Be the Next PEPE

• NEIRO’s bullish trend continues with higher highs and lows, signaling growth.
• Key support at $0.002265 strengthens NEIRO’s upward momentum potential.
• Rising volume and MACD strength suggest NEIRO could reach $0.003000 soon.

The cryptocurrency market is no stranger to volatility, and NEIRO is demonstrating a powerful upward trend that has traders taking notice. This surge follows a significant support-resistance (S/R) flip and a rise in trading volume, particularly on Binance.

Analyst Eugene Ng Ah Sio noted that with NEIRO’s market cap still below $1 billion, its price action resembles the early stages of PEPE’s rally earlier this year. However, NEIRO’s current trajectory features positive technical indicators, high leverage, and increased trading interest. This suggests substantial growth potential and strong bullish activity.

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Bullish Trend and Key Support Level

The NEIRO/USDT pair has displayed a clear bullish trend, marked by a series of higher highs and higher lows. The asset recently broke above its previous consolidation zone, signaling a potential upward continuation. 

Presently, the critical support level rests around $0.002265, a level that previously acted as resistance and now offers stability following the breakout. This support level serves as a foundation for further bullish momentum, acting as a safety net should prices temporarily retrace.

Read also: Neiro Ethereum (NEIRO) Price Jumps on DWFLabs Partnership Announcement

Anticipated Resistance and Potential Upside

On the upside, the $0.003000 level is projected as a key target if the bullish trend maintains its pace. With minimal resistance above its current price, NEIRO has significant potential for further gains, as long as it maintains its upward momentum.

The path toward $0.003000 remains open as long as support at $0.002265 holds. As a result, this setup encourages traders to closely monitor the price action, particularly as NEIRO gains traction in the memecoin sector.

Volume and Indicators Show Continued Strength

The recent surge in trading volume aligns with NEIRO’s breakout, suggesting strong investor interest and a supporting factor for further upward movement. Higher trading volumes typically indicate increased confidence in the market, which often drives sustained price advances.

As at press time, Neiro Ethereum is trading at $0.103582 with a 24-hour trading volume of $35.28 million, even though it’s experienced a minor 4.31% dip in the last 24 hours. 

The 4-hour RSI reading of 79.21 suggests that NEIRO might be entering overbought territory, which could lead to a temporary consolidation or retracement. However, the MACD’s position above the signal line suggests that bullish momentum remains dominant.