Current Trend:
Chart $NEIRO shows a significant pullback, with a 12.40% drop to reach 0.00237072 USDT. This level is below the MA(25) and MA(50) moving averages, at 0.00240303 and 0.00246515, respectively. The MA(200) moving average, further away at 0.00283619, shows that the long-term trend remains bullish, but in the short term, selling pressure is dominant.
Key Level Analysis:
Main support at 0.00173868: This level is crucial and could act as a floor in the event of a further decline.
Immediate resistance at 0.00277232: This threshold must be crossed to consider a bullish recovery.
RSI (Relative Force Index) :
The current RSI at 46.27 shows slight selling pressure, but remains in the neutral zone (between 40 and 60). This indicates that the market is neither overbought nor oversold, leaving some room for fluctuation.
Volumes: The observed volumes are moderate, without a strong signal of buying pressure. However, an increase in volumes could boost the trend. The volume of the MA(5) remains higher than that of the MA(10), which is a mixed signal for the bullish momentum.
Strategy :
Buy (40%): In the current area near the support, the risk of buying is lower. Those who believe in a rebound can buy, hoping for a rise towards 0.00277232.
Sell (60%): Cautious investors could wait for a clear break of the resistance to confirm the uptrend, or sell now to avoid possible losses if the price breaks the support at 0.00173868.
Short Term Forecast:
In the short term, if the price fails to move back above MA(50), we could see a consolidation between 0.00173868 and 0.00277232. A bounce from the support or a break of the resistance will determine the next direction.
Conclusion: $NEIRO shows a limited buying opportunity. Caution remains in order for buyers, while sellers may be more comfortable in the short term.
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