Neiro breaks out: Is $0.10 within reach now for bulls?

• NEIRO shows strong bullish momentum with technical indicators favoring a breakout past $0.10.
• Increasing volume and a growing number of holders suggest continued upside potential for NEIRO.

Neiro Ethereum [NEIRO] has captured market attention by surging 13.33% in the past day, trading at $0.09458 at press time. This surge follows a strategic whale move, with 17.71 million NEIRO purchased for $1.53 million at an average price of $0.08662.

The critical question remains—can NEIRO maintain this momentum and break the $0.10 mark?

Technical analysis: Momentum points to a breakout

NEIRO displays clear signs of bullish momentum. The Relative Strength Index (RSI), currently at 56.69, reflects positive price movement while avoiding overbought conditions.

This signals room for further gains, giving NEIRO a favorable position to advance.

Moreover, the Bollinger Bands (BB) reveal a tight range, with the upper band at $0.09879 and the lower band at $0.09212. With NEIRO approaching the upper band, a breakout seems imminent.

A push above this range could accelerate the climb toward the $0.10 milestone.

Source: TradingView

Volume surge: Will liquidity drive NEIRO’s rally?

In addition to technical strength, NEIRO’s volume surged by 33.39% over the last 24 hours, bringing the total volume to $704.98 million at press time. This surge in liquidity reflects increased investor confidence. 

Such a rise in volume often precedes significant price action, supporting NEIRO’s upward trajectory. With more participants entering the market, NEIRO looks well-positioned for a sustained rally.

Source: Coinglass

Growing holders: Retail interest gains steam

Retail investors continue to flock to NEIRO, as seen by the increasing number of holders. Now at 21,978 at press time, the growing community provides solid support for NEIRO’s price stability.

Consequently, as more holders enter the ecosystem, demand strengthens, potentially fueling further growth.

Source: Santiment

NEIRO long and short ratio: bulls in control

The long/short ratio reveals a slight tilt toward short positions, with 47.15% long and 52.85% short. However, this imbalance might work in favor of the bulls. 

If NEIRO continues its upward momentum, short sellers could face pressure to cover their positions, triggering a short squeeze that pushes the price even higher.

Source: Coinglass

Read Neiro Ethereum [NEIRO]  Price Prediction 2024–2025

Considering the rising volume, technical indicators, and increasing holder base, NEIRO stands 80% likely to break through the $0.10 resistance level in the near future. The momentum favors a bullish continuation, and the current conditions point to a likely breakout.

However, slight volatility could arise from the long/short imbalance. Still, the overall outlook leans strongly toward NEIRO holding its gains and pushing higher. Traders should watch $0.10 as the key breakout level.