$NEIRO #Binance #Everyone #followers #binanceking SA

NEIRO/USDT Chart Analysis (15-minute chart)

trend analysis

Current trend: The asset has been in an uptrend, but the recent decline suggests a possible short-term downtrend may begin. The price has fallen below the 7- and 25-period moving averages, reflecting a negative signal.

Moving Average (7): At 0.0011484, the current price is trading below this level, indicating short-term bearish momentum.

Support and resistance levels

Support:

Immediate support is around 0.001024, which is the recent low.

Stronger support near your sell entry level at 0.00095.

Resistance:

Immediate resistance is around 0.0012271 (recent high).

Second resistance level at 0.001160 (25 period moving average).

Japanese candlestick analysis

The last candles show bearish pressure, especially with the rejection at 0.0012271, followed by multiple red candles. This indicates the possibility of further decline in the near term.

Indicators and Oscillators

MACD: Bearish crossover (DIF < DEA), confirming weak momentum.

RSI (6): RSI is around 31.09, approaching the oversold zone. This indicates a possible reversal is imminent, but the short-term momentum is still bearish.

Volume analysis

Volume has been rising during the recent sell-off, confirming the strength of the current downtrend. However, declining volume during the pullback suggests that selling pressure may soon subside.

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Trading recommendations

Short-term strategy (1-2 hours):

Since you have taken a short position at 0.00095, you are in a good position. The price is still hovering above your entry level, but watch for a test of the support at 0.001024.

If 0.001024 is broken, hold the sell as the next target could be 0.00097. You may want to adjust your stop loss to 0.00116 (25 period moving average), above the recent resistance.

Long term strategy (1-2 days):

For a longer strategy, wait for a clearer trend confirmation. If support holds at 0.001024, the price may bounce and test higher levels. If you are still holding a short position, consider taking profits near 0.00095 (your entry point) as it is an important support level.

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Trading recommendation:

For your sell position, hold the sale as long as the price stays below 0.001160. Place a stop loss at 0.00116, and set a take profit at 0.00097.