Neiro Surges 15% Despite Market Turbulence
Neiro, an Ethereum-based meme coin, has shown impressive strength in the midst of market-wide turbulence, recording a strong bullish momentum over the past day.
Impressive 15% surge
Despite the overall lackluster performance of the market, Neiro (NEIRO) managed to surge by 15% in the last 24 hours. This comes on the heels of a massive 36% gain on Oct. 6, which overshadowed a 9.23% loss the day before.
The bullish momentum continued with a 24.51% rally on Oct. 7, followed by an additional 2.42% increase this morning that pushed NEIRO into the top spot on the gainers list.
Current Status and Market Capitalization
As of the time of writing, NEIRO is up by 15.3% in the past 24 hours and is trading at $0.001678. The coin's market cap has reached $714 million with a daily trading volume of $1.17 billion.
On the four-hour chart, NEIRO has broken above the Ichimoku Cloud, indicating a potential continuation of its bullish run. The Ichimoku Cloud indicators show strong support levels amid the upsurge.
Technical Analysis
- The Base Line, currently at $0.001397, is significantly below NEIRO’s current Price, suggesting a solidified higher floor.
- Leading Span A at $0.001495 highlights the cloud’s support level, confirming the potential for further upward movement if the support holds.
- The RSI, now at 77.55, indicates that NEIRO is in overbought territory with high buying pressure.
While the overbought signals on the RSI are bullish, they also indicate the possibility of a correction as the Token becomes overextended. Investors should monitor the situation closely for a potential retracement.
Potential Opportunities
A pullback toward the Base Line around $0.001397 could present an opportunity for buyers looking to re-enter the market at a lower price point.
