Neiro gains 30% as buyers push for new price levels

Neiro (CRYPTO:NEIRO) has surged significantly, experiencing a 30.29% increase over the past week amid a broader rally in the memecoin market.

Despite this upward movement, Neiro remains 15% below its all-time high (ATH) reached just two days ago, raising questions about the sustainability of its current trend.

Technical analysis indicates that Neiro is experiencing strong buying interest.

The Relative Strength Index (RSI) has increased from 63 to 67 within 24 hours, suggesting that buyers are exerting more pressure than sellers, reflecting robust market momentum.

Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish trend, as the MACD line remains above its Signal line, signaling sustained upward momentum.

Exchange flow data from Santiment highlights a notable decline in Neiro’s exchange flow balance over the past month, dropping from 1.23 billion tokens to just 7.04 million—a 99.43% decrease.

This reduction implies less selling pressure, as more investors opt to hold their tokens in cold wallets rather than move them to exchanges.

The number of Neiro holders has also risen to 19,800, pointing to increased interest and adoption.

This growth in unique addresses can suggest a mix of new retail and potential institutional interest, supporting the memecoin’s long-term growth prospects.

Market conditions currently favor buyers, indicating that Neiro may test the $0.0031 resistance level.

A successful breakout could propel it to new ATHs, reinforcing its bullish phase and showcasing continued positive sentiment among traders and investors.

At the time of reporting, the Neiro (NEIRO) price was $0.002058.