Is It Too Late To Buy NEIRO? Neiro Ethereum Price Pumped 13% As Traders Rush To Buy This ETH Layer 2 Crypto For Its 100X Potential

Neiro Ethereum Surges 10%, Price Analysis Bullish

In a notable market move, the Neiro Ethereum price has surged 10% over the past 24 hours, reaching $0.2218 as of 6:50 p.m. EST. This surge has been propelled by a 15% increase in trading volume, which now stands at $21 million.

Neiro Ethereum has consistently performed well in recent times, emerging as one of the top-performing tokens. Within a span of two weeks, $NEIRO has amassed a market capitalization of $260 million.

Price Analysis: Bulls Establish Strong Support

The NEIRO price movement indicates a gradual uptrend. The formation of a bullish channel highlights the struggle for price control. Traders often look to this pattern as a sign of a potential bullish trend continuation.

According to data from GeckoTerminal, a small drop from the upper trendline of the channel at $0.2943 has ignited strong resilience among bulls. They have established a robust support zone, causing the price to rebound.

While bears attempt to push the price lower, bulls appear poised to drive it back towards the channel's upper trendline. If they gain full control, they could potentially push the price above the channel, triggering a bullish rally that could propel NEIRO to new all-time highs.

Technical Indicators Favor Bulls

The NEIRO Ethereum price currently trades below the 50 Simple Moving Average (SMA) but remains relatively above the 200 SMA. This provides an opportunity for bulls to drive the price higher. It also indicates positive sentiment and diminishing selling pressure for Neiro's price.

The Relative Strength Index (RSI) has been oscillating around the 50 midline level, with bulls attempting to push the price upwards. This level is considered strong enough to allow the RSI to surge towards the overbought zone of 70. The current RSI value of 53 suggests that buying pressure for Neiro's price is accumulating, potentially leading to a further increase.

Meanwhile, the MACD indicator trades above the neutral level, signaling a potential fall. However, bulls still have hope of pushing back, which could cause the MACD to regain its upward momentum. The increasing bullish bars and recent crossover above the signal line have fueled the confidence of bull traders, indicating a high probability of continuing the uptrend, favoring buyers and shifting momentum back to bullish territory.

Price Prediction: $0.4 Target in Sight

Bulls are optimistic about pushing the price higher. Supported by favorable technical indicators and moving averages, the Neiro Ethereum price has the potential to rally to a new high of $0.4435 in the coming weeks.

Conversely, if bears gain control, the price could drop to the support level of $0.1964. Sustained downward pressure may further decline to the upper trendline of the wedge at $0.1335.

Related News: Pepe Unchained ($PEPU) Presale Surpasses $8 Million

The enthusiasm for Neiro Ethereum's bullish prospects is reflected in the presale success of Pepe Unchained ($PEPU), a new layer 2 token that has recently raised over $8 million.

PEPU has emerged as one of the best-performing ICOs this year, demonstrating resilience amidst the current meme coin selloff. The token operates on its own layer 2 network, distancing itself from the legacy PEPE layer 1 blockchain. This has enabled it to provide investors with increased transaction speeds, scalability, and lower fees.

According to the project team, PEPU aims to achieve speeds up to 100 times faster than meme coins on the Ethereum network. Its Layer 2 chain will feature an explorer and offer impressive staking yields of 239% to investors who hold PEPU.

This has caught the attention of analysts such as those on the 99Bitcoins YouTube channel, who believe that PEPU has the potential to lead the next bull market and become a top meme coin. Investors can join the presale by purchasing the token at a current price of $0.0089919. However, time is of the essence as a price hike is expected in approximately 10 hours.