$NEIRO Why is neiro going down and down?
Here’s a detailed breakdown of the NEIRO/USDT chart:
1. Current Price: The price of NEIRO is 0.00147909 USDT, with a 9.41% drop in the last 24 hours.
2. 24h High/Low:
24h High: 0.00168000 USDT
24h Low: 0.00138827 USDT The price is closer to the daily low, indicating recent bearish movement.
3. Volume:
NEIRO Volume: 144.59 billion
USDT Volume: 221.39 million There is significant trading volume, which suggests active market participation despite the price drop.
4. Candlestick Chart: You are viewing the 1D (Daily) chart.
After a peak around 0.00168000 USDT, there has been a consistent downward movement.
The price seems to be attempting a rebound after touching around 0.00138827 USDT, but it hasn't fully reversed the downtrend yet.
5. Indicators:
Stochastic RSI (STOCHRSI): The current value is 1.3253, indicating that the market is heavily oversold. This could signal a potential buying opportunity if the price begins to recover.
Masto Stochastic RSI (MASTOCHRSI): The reading is 1.3317, close to the STOCHRSI, further supporting oversold conditions.
RSI (Relative Strength Index): The RSI is 25.9062, also indicating oversold conditions, suggesting that the selling pressure might be losing momentum, and a bounce-back could occur.
6. Moving Averages (MA):
MA5: 90,110,242,355
MA10: 110,278,321,370 The shorter-term MA (MA5) is below the longer-term MA (MA10), suggesting the market is in a downtrend in the short term.
7. Support and Resistance:
Support: The chart shows previous support around 0.00138827 USDT, where the price has recently bounced.
Resistance: Immediate resistance is around 0.00168000 USDT.
In summary, the indicators suggest that the asset is currently oversold, and the downtrend may slow down or reverse soon, but confirmation is needed from price action or a change in momentum.
