Is NEIRO crypto poised for a bullish breakout? Key levels to watch

• A break above $0.006 could trigger strong bullish momentum, targeting a surge towards $0.01.
• Recent volume spike suggests growing interest, but $NEIRO faces resistance from the 50 and 100 EMAs.

NEIRO crypto appeared to be forming the early stages of a bullish reversal after a period of consolidation and downward pressure.

Analysts suggested the price may consolidate between $0.0034 and $0.0045 before making any significant upward movement.

Crypto analyst Zen stated,

“$NEIRO starting a bullish reversal imho.”

He added that the price might consolidate within this range before breaking above the $0.006 resistance level.

Once this resistance is broken, the next major target would be $0.00793, and a surge toward $0.01 could follow.

Key resistance levels and price path

According to Zen analysis, the $0.006 level stands out as the first major resistance to watch. If NEIRO breaks above this point, it could mark the start of stronger bullish momentum. 

The next key resistance at $0.00793 would serve as a potential trigger for further upward movement, possibly leading to a psychological target of $0.01.

Source: X

The price path projection indicates a possible retest of $0.006, followed by a push toward $0.00793.

This phase of consolidation could help build a foundation for a larger move, potentially driving NEIRO higher in the future. A break above $0.01 would mark a major milestone for traders looking for significant gains.

Neiro crypto market sentiment

A recent surge in volume, with over 421 million tokens traded, suggests increased interest in NEIRO. This spike in trading volume may support the idea that a bullish breakout is on the horizon.

The growing activity could be a sign of renewed momentum, especially if buyers push the price past critical resistance levels.

Despite the recent volume surge, the price of NEIRO has seen mixed performance in the short term.

As of press time, NEIRO crypto was valued at $0.003882, with a -27.71% decline in the last 24 hours, though it has shown a 2.66% increase over the past seven days.

The press time market cap was $3.88 million, based on a circulating supply of 1 billion tokens.

Technical indicators show mixed signals

On the technical side, the 50 EMA ($0.003889) and 100 EMA ($0.003909) remained above the current price, indicating short-term resistance.

The price appeared to be struggling to break past these levels, suggesting a possible consolidation phase.

Source: TradingView

The RSI (Relative Strength Index) is slightly bearish at 46.25, indicating weak momentum and slight selling pressure. However, the RSI is not yet in oversold territory, suggesting that further declines may be limited. 

Read Neiro’s [NEIRO] Price Prediction 2024–2025

The MACD (Moving Average Convergence Divergence) showed little movement, with the lines hovering near the zero level, indicating a lack of strong directional momentum. 

This reinforced the likelihood of continued sideways movement until a breakout occurs.