{"id":1051,"date":"2024-10-29T19:13:07","date_gmt":"2024-10-29T19:13:07","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/neiro-breaks-above-key-level-following-10-weekly-drop-is-0-0020-next\/"},"modified":"2024-10-29T19:13:07","modified_gmt":"2024-10-29T19:13:07","slug":"neiro-breaks-above-key-level-following-10-weekly-drop-is-0-0020-next","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/neiro-breaks-above-key-level-following-10-weekly-drop-is-0-0020-next\/","title":{"rendered":"Neiro Breaks Above Key Level Following 10% Weekly Drop, Is $0.0020 Next?"},"content":{"rendered":"

Despite Neiro (NEIRO)\u2019s recent price drop, analysts and investors seem bullish on the memecoin. Some market watchers noted the cryptocurrency\u2019s potential, suggesting the levels to watch ahead of the next bullish rally.<\/p>\n

Neiro Sees 10% Weekly Correction<\/h2>\n

Neiro made the headlines three months ago after becoming an overnight sensation on the Ethereum Network. The memecoin was inspired by the newly adopted sister of Dogecoin\u2019s inspiration, Kabosu.<\/p>\n

The cryptocurrency has registered a remarkable performance during October, jumping 30% month-to-date (MTD). Moreover, the token saw an impressive rally towards its all-time high (ATH) price of $0.0022 two weeks ago, surging 4,600% in 30 days.<\/p>\n

The memecoin\u2019s bullish momentum also propelled its market capitalization (MC) near the $1 billion mark, reaching a $935 million MC on October 15, which fueled a bullish sentiment among market watchers.<\/p>\n

However, Neiro\u2019s price has declined since its most recent rally, trading 31.5% below its ATH. The Shiba Inu-themed memecoin registers a 10.3% drop in the past week, hovering between the $0.00132-$0.00170 price range.<\/p>\n

Despite the price drop, analysts and investors remain positive above the cryptocurrency. Crypto Tony noted<\/a> that the memecoin is another token that looks \u201creally good\u201d since the beginning of its bullish momentum in mid-September.<\/p>\n

The analyst pointed out Neiro\u2019s potential, suggesting that a small pullback from its recent levels could be a good entry point for investors ahead of an upcoming rally.<\/p>\n

Is $0.0020 Or $0.0010 Next?<\/h2>\n

Since its all-time high, the cryptocurrency\u2019s chart has displayed a downtrend, forming a broadening wedge pattern in the lower time frame, according to trader CryptoBull360. The market watcher noted<\/a> that a successful breakout above the upper trendline could trigger a 25%-30% bullish rally for the token.<\/p>\n

Another trader suggested<\/a> Neiro\u2019s \u201csituation on the chart is messy.\u201d The trader stated that the token needed to break above the $0.00165 mark to continue its bullish trajectory and recover its ATH levels.<\/p>\n

However, if Neiro is rejected instead, the token could see a 30% correction toward the $0.0010 support zone. The $0.00165-$0.00170 price range represented an important consolidation zone ahead of the token\u2019s surge toward its ATH.<\/p>\n

On Monday morning, Neiro\u2019s price jumped 13.3% toward the $0.00170 resistance level. The token moved above the pattern\u2019s upper trendline, signaling a breakout from its biweekly downtrend.<\/p>\n

Nonetheless, the token couldn\u2019t hold above the key resistance level and pulled back toward the $0.00154 support zone. Crypto analyst Sjuul from AltCryptoGems suggested<\/a> that the memecoin\u2019s recent performance has been better than expected.<\/p>\n

\u00a0After \u201ca longer manipulation\u201d and reclaiming the $0.00150 level over the weekend, the analyst believes Neiro is ready to move toward higher resistance levels, potentially targeting the crucial $0.0020 mark again.<\/p>\n

As of this writing, Neiro is trading at $0.00151, a 4% drop in the daily timeframe.<\/p>\n

\"Neiro,<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Neiro (NEIRO)\u2019s recent price drop, analysts and investors seem bullish on the memecoin. Some market watchers noted the cryptocurrency\u2019s potential, suggesting the levels to watch ahead of the next bullish rally. Neiro Sees 10% Weekly Correction Neiro made the headlines three months ago after becoming an overnight sensation on the Ethereum Network. The memecoin…<\/p>\n","protected":false},"author":1,"featured_media":1052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[42,85,725,281,33,166,726,261,410,727,728],"class_list":["post-1051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-crypto-analyst","tag-crypto-market","tag-crypto-market-correction","tag-crypto-trader","tag-cryptocurrency-market-news","tag-dogecoin","tag-ethereum-memecoins","tag-memecoin","tag-neiro","tag-neiro-price","tag-neirousdt"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/1051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=1051"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/1051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/1052"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=1051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=1051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=1051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}