NEIRO Coin: MACD Signals Potential Reversal, Can It Rally Over 220%

Neiro on Ethereum (NEIRO) daily chart showed a downtrend followed by signs of a potential reversal. The NEIRO coin price dipped consistently beneath the resistance marked by a descending trendline.

As the market found a floor, NEIRO began consolidating, forming a base around $0.00094000 highlighted by several touches on this level, indicating strong support.

The RSI at 34.85 neared the oversold threshold, suggesting that selling pressure might be exhausting.

Concurrently, the MACD, was below the signal line. It hinted at emerging buying momentum with its trajectory aiming for a bullish crossover.

This setup suggested that if NEIRO coin breaches the resistance trendline and maintains above this mark, particularly around $0.0011400, it could confirm a bullish reversal.

Should NEIRO ascend from this breakout point and sustain upward momentum, a 220% rally aligning with historical recoveries could be possible, potentially setting new ATHs beyond the current peak seen during the previous cycle.

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This was supported by increasing volume and the MACD’s shift into positive territory, both indicating the strength of the uptrend, which, if confirmed, points to a buying opportunity, aiming for gains.

NEIRO Coin Funding Rates

The funding rates for Neiro on Ethereum on crypto exchanges depicted the highest positive funding rate at 22.93%.

This indicator suggested significant bullish sentiment among traders, often preceding price surges due to increased long positions.

Historically, this data aligned with the hypothesis that extreme positive funding rates can lead to price retractions.

However, given the existing market dynamics and NEIRO’s robust funding rate, the scenario could pivot. Should Neiro coin sustain this level of interest, it could catalyze a substantial price increase.

The funding rate trend and momentum amidst a volatile price movement, could predict an imminent rally.

Assuming NEIRO breaks the prevalent downtrend line and holds, based on past patterns, a potential 220% increase could be anticipated. This relies on continuous trader optimism and market conditions conducive to sustaining high leverage and bullish bets.

Fastest Growing Animal Meme Coins

Further analysis showed explosive growth rates of various animal-themed memecoins in their race to a $1 Billion market cap.

Notably, NEIRO, featured prominently, reached this financial milestone in just 104 days, outpacing many of its peers. This swift ascent highlighted NEIRO’s significant market impact and investor enthusiasm.

Peanut the Squirrel (PNUT) set a record by hitting the $1 Billion mark in merely 11 days, the trend of rapid valuations was clear.

PEPE and BRETT followed, achieving this in 19 and 28 days, respectively. These figures indicated a vibrant interest in animal memecoins within the cryptocurrency community.

NEIRO’s relatively faster journey to $1 Billion compared to later entries like MEW (214 days), POPCAT (284 days), and BONK (722 days) suggested a strong market acceptance and robust initial growth phase.

This rapid ascension was indicative of NEIRO’s potential trajectory beyond its current ATH. The significant market cap implied not only a temporary spike but potentially sustained interest that could propel NEIRO coin well past previous peaks.

The rapid market cap growth, suggests that Neiro on Ethereum could witness further substantial gains. If this trend of aggressive growth among memecoins continues, NEIRO might very well lead the pack in future rallies, potentially achieving unprecedented price levels.