NEIRO Price Climbs 929% After Binance’s Unexpected Move – Will It Break $1?
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Over the past 24 hours, the NEIRO price has seen a 7.47% decline, making it one of the worst affected by an average 0.91% decline among meme coins.
Despite today’s loss, NEIRO is making headway within the meme coin space, bolstered by an unexpected Binance listing that has boosted its recent popularity.
Today’s loss is part of a significant 57.02% correction since last Tuesday, as traders took profits on Neiro’s monumental rise, and late joiners succumbed to unrealized losses amid sell-off pressure.
Neiro is still seeing significant activity, with its trading volume up 9.20% to $123 million over the past 24 hours, indicating strong investor interest despite recent price fluctuations.
Upon closer inspection of the NEIRO chart, it seems that it is currently struggling to find its footing.
After a breakout from a bullish double-bottom pattern, NEIRO was propelled above the resistance at $0.0004025. However, it appears that its momentum was too weak to affirm a decisive break, quickly plummeting back below it.
The Relative Strength Index (RSI) is displaying strength; despite recent downward momentum, it has maintained its position in bullish territory above the neutral line, currently at 60.
In contrast, a Chaikin Money Flow (CMF) of -0.5 suggests that, despite the bullish sentiment indicated by the RSI, there is still strong underlying selling pressure that could impact future price movements.
However, this is all typical of a correction following such a monumental rise. Significant near-term volatility, and more downside, are expected while NEIRO
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