The post NEIRO Coin: MACD Signals Potential Reversal, Can It Rally Over 220% appeared on BitcoinEthereumNews.com.

Neiro on Ethereum (NEIRO) daily chart showed a downtrend followed by signs of a potential reversal. The NEIRO coin price dipped consistently beneath the resistance marked by a descending trendline. As the market found a floor, NEIRO began consolidating, forming a base around $0.00094000 highlighted by several touches on this level, indicating strong support. The RSI at 34.85 neared the oversold threshold, suggesting that selling pressure might be exhausting. Concurrently, the MACD, was below the signal line. It hinted at emerging buying momentum with its trajectory aiming for a bullish crossover. This setup suggested that if NEIRO coin breaches the resistance trendline and maintains above this mark, particularly around $0.0011400, it could confirm a bullish reversal. NEIRO/USDT daily chart | Source: Trading View Should NEIRO ascend from this breakout point and sustain upward momentum, a 220% rally aligning with historical recoveries could be possible, potentially setting new ATHs beyond the current peak seen during the previous cycle. – Advertisement – This was supported by increasing volume and the MACD’s shift into positive territory, both indicating the strength of the uptrend, which, if confirmed, points to a buying opportunity, aiming for gains. NEIRO Coin Funding Rates The funding rates for Neiro on Ethereum on crypto exchanges depicted the highest positive funding rate at 22.93%. This indicator suggested significant bullish sentiment among traders, often preceding price surges due to increased long positions. Historically, this data aligned with the hypothesis that extreme positive funding rates can lead to price retractions. However, given the existing market dynamics and NEIRO’s robust funding rate, the scenario could pivot. Should Neiro coin sustain this level of interest, it could catalyze a substantial price increase. Source: X The funding rate trend and momentum amidst a volatile price movement, could predict an imminent rally. Assuming NEIRO breaks the prevalent…

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Filed under: News - @ December 29, 2024 11:11 pm