NEIRO Coin Eyes 57% Rally: Falling Wedge Breakout Nears 

According to CryptoFaibik, NEIRO coin could see a 40–50% rally if it breaks above the wedge’s upper boundary. Nevertheless, bearish pressure on the daily chart points out that its further direction will largely depend on the upcoming trading days.

Falling Wedge Pattern Suggests Bullish Potential

The 4-hour chart of NEIRO coin shows a falling wedge pattern marked by two converging lines, which depicts the reducing volatility of price before the breakout.

This pattern usually suggests that a breakout is just around the corner, with the upward direction being the most probable.

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The level to look out for is $0.00207500 which is the upper trend line of the wedge. If the price breaks above this level, it could reach $0.00320000 high which will be a 57% upswing from the breakout price.

NEIRO Coin Daily Chart Shows Bearish Momentum

However, looking at the 4-hour chart there are potential bull signals in the making, though the daily chart is less optimistic. Nevertheless, NEIRO has been on the decline by 8% and is currently at $0.001858 following selling pressures.

The price recently crossed below the 20-day SMA approaching $0.00205000 and this level has now become the resistance level. This breakdown also indicates the shift in the overall market trend from bullish to bearish in the short-term market.

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Moreover, NEIRO is close to the lower Bollinger Band for $0.00114403, which may be a support in case of further selloff.

The Relative Strength Index (RSI) has reduced to 47.15 which shows that the bullish strength has deteriorated. Having recently triggered the overbought levels, the momentum has shown a bearish signal below the 50 level.

NEIRO Coin Key Levels to Watch

The short-term price movements in NEIRO will highly depend on the support and resistance levels. On the upside, if the bullish wedge pattern breaks above $0.00207500 then directed price action to $0.00320000 can be expected.

On the upside, a breakout above $0.00207500 would confirm the bullish wedge pattern and potentially trigger a rally toward $0.00320000. The second level of resistance is identified at $0.00250000 which requires increased buying pressure to break through this level.

On the downside, $0.00180000 acts as a crucial support level. If this support is broken, then a deeper correction could occur towards the lower Bollinger Band at $0.00114403.

Mixed Outlook Creates Challenges

For traders and investors, NEIRO’s current setup presents a mix of opportunities and risks. The falling wedge on the 4-hour chart offers a bullish case, with significant upside potential if the breakout materializes. However, the bearish trend on the daily chart and the dip below the 20-day SMA suggest caution is warranted.

To confirm a bullish breakout, strong trading volume will be essential. Without this, the bearish sentiment on the daily chart could outweigh the potential for gains.

If NEIRO holds above $0.00180000 and breaks through $0.00207500, bullish momentum could reignite, targeting $0.00320000. Conversely, if the price fails to defend the $0.00180000 support, a further decline toward $0.00114403 is likely.

The coming days will be critical in defining NEIRO’s trajectory, with traders needing to monitor both support and resistance levels closely for any decisive price movement.