Neiro Ethereum

Date: Mon, Oct 28, 2024, 05:29 AM GMTThe memecoin market is shining up again, and Neiro Ethereum (NEIRO) is leading the charge with a strong rally of over 45% in the past 24 hours. After a dip in its weekly performance, NEIRO has staged an impressive comeback.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/eb2c0fe951e04731ac7574a1771d7b0d.png" />Source: CoinmarketcapLet&#39;s dive into the current price action, whale accumulation, and technical analysis to determine if further gains might be on the horizon.<h2 id="header-0">Breakout Leads the Rally</h2>NEIRO’s recent price <a href="https://coinsprobe.com/first-neiro-on-eth-neiro-and-neiro-eth-neiro-bounce-back-with-double-digit-gains-is-a-rally-on-horizon/" rel="noopener noreferrer nofollow">breakout </a> [B] is a key factor in its recent surge. After a period of consolidation within a descending wedge, NEIRO managed to break out with strong bullish momentum, which has spurred significant buying interest and a push through critical resistance levels.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/cc5c05b353ff4297a28549793ef9e9e4.png" />As illustrated in the 4-hour chart, NEIRO has broken above the key resistance zone marked as R around the $0.10 level. This breakout occurred with high volume, indicating solid buying pressure. Following this breakout, there’s a possibility for NEIRO to reach the next target level, T, around $0.14.The current support level (S) has established a base around $0.06, which helped launch the recent rally. This level is expected to act as a solid support zone in case of a pullback.The RSI (Relative Strength Index) also sits in the overbought region, currently around 77.5, suggesting that the rally may encounter a brief consolidation or slight retracement before further upward movement. However, with consistent volume, NEIRO has the potential to maintain its bullish momentum.<h2 id="header-1">Whale Accumulation</h2>Notably, the breakout has attracted the attention of whales. According to <a href="https://x.com/lookonchain/status/1850583655548391923" rel="noopener noreferrer nofollow">Lookonchain </a>reports, two new wallets have accumulated large amounts of NEIRO in the past day:<ul><li>Wallet &#34;0xec6b&#34;: This wallet, withdrew 230.4 ETH (approximately $575,000) from OKX to purchase 8.23 million NEIRO.</li><li>Wallet &#34;0xd753&#34;: Another new wallet, which withdrew 5.41 million NEIRO (worth around $453,000) from Gate.io.</li></ul>The presence of whale buyers reinforces bullish sentiment and could support further price gains if these large holders continue to accumulate.<h2 id="header-2">More Gains Ahead?</h2>The combination of the technical breakout, strong support levels, and whale accumulation indicates a positive outlook for NEIRO. If NEIRO holds above the current resistance zone around $0.10, it could pave the way for further gains, with $0.14 as the next target level.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/as-polygon-pol-hits-its-three-year-support-level-is-the-stage-set-for-a-major-comeback/" rel="noopener noreferrer nofollow">As Polygon (POL) Hits Its Three-Year Support Level, Is the Stage Set for a Major Comeback?</a>

Neiro Ethereum (NEIRO) Gains Momentum Following Breakout and Whale Accumulation: More Gains Ahead?

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