Neiro Ethereum Price Prediction: NEIRO Plummets 18% As This 2.0 PEPE Zooms Past $9 Million

Neiro Ethereum Price Analysis: Bulls Maintain Strong Support Zone

The Neiro Ethereum price has experienced an 18% decline in the past 24 hours, trading at $0.2041 at 7:15 a.m. EST. The trading volume has dropped by 34%, reaching $34 million.

Bullish Momentum Persists

Despite the price correction, the bulls continue to stage a robust support zone, keeping the price above $0.1285. This support level has been instrumental in allowing buyers to regain momentum and drive the price higher.

Technical Indicators Support Bullish Sentiment

The 50 Simple Moving Average (SMA) on the 4-hour chart presents resistance, coinciding with a bearish trendline within the bullish channel. However, the price remains relatively above the 200 SMA, providing an opportunity for the bulls to push the price over the 50 SMA.

The Relative Strength Index (RSI) is consolidating and shows signs of breaking out above the 50 midline level. Currently at 44, the RSI indicates diminishing selling pressure.

The MACD indicator, while still trading around the neutral level, is rising, supporting the bullish sentiment. The growing bullish bars and the recent crossover above the signal line underscore the confidence of bull traders.

Price Prediction

The bulls face a critical decision point near the 50-day SMA. A breakout above this level could lead to a new rally and a potential spike to $0.4568 in the coming weeks.

With the backing of technical indicators and moving averages, Neiro Ethereum could even reclaim its previous all-time high of $0.2933.

However, if the bears gain control, the price could fall to the support level of $0.1550.