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The First Neiro On Ethereum price is up more than 9% in the past week following a 2% jump in the last 24 hours to trade at $0.001712 as of 11:34 p.m. EST.
The NEIRO price gained even as the meme coin sector overall saw its market capitalization drop more than 2%.
The First Neiro On Ethereum Price Challenging The $0.001765 Resistance
4-hour chart for NEIRO/USDT (Source: GeckoTerminal)
The First Neiro On Ethereum price is attempting a challenge at the $0.001765 resistance level. Should traders successfully push the meme coin’s price above this technical barrier, NEIRO might gain the space needed to keep rising in the following 24 hours. This could lead to the First Neiro On Ethereum price rising to as high as the subsequent resistance at $0.002147.
However, a rejection from the $0.001765 barrier in the next 12 hours could stop the First Neiro On Ethereum price in its tracks. Traders could subsequently end up exerting sell pressure on the meme coin in this alternative scenario, which might push NEIRO down to the immediate support at $0.001358. Continued sell pressure could then lead to it plunging to $0.001025.
Technicals Warn The First Neiro On Ethereum Price Is Losing Its Bullish Strength
From a technical perspective, indicators on NEIRO’s 4-hour chart suggest the meme coin’s price might undergo a slight correction in the coming 12 hours. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators show signs of diminishing buyer strength and waning bullish momentum.
RSI readings dropped in the last 12 hours, which is usually seen as a warning of buyers losing their grip on a crypto’s price. Although the current reading is still bullishly above 50 at 58, the negative slope of the RSI line suggests that this might not be the case for long.
NEIRO’s bullish momentum seems to be cooling off as well, which is evident by the MACD line that is dropping towards the MACD Signal line. If the gap between the two technical indicators continues to shrink, it could lead to a bearish crossover between the MACD and MACD Signal lines to indicate that the First Neiro On Ethereum price has entered a negative cycle.
With technicals starting to show bearish signs for the First Neiro On Ethereum price, investors might want to pivot to the layer-2 meme coin rival Pepe Unchained (PEPU), one of the hottest presales of the year after raising a huge $23.7 million.
A Scalable Framework Suitable For The Next Meme Coin Super Cycle
Meme coins have been the best performing assets in the crypto market this year, but their backers still have a lot to look forward to as experts and analysts forecast an upcoming meme coin supercycle. Hype around these tokens has already caused outages for some of the biggest layer-1 networks, including the TON and Solana chains.
This is where Pepe Unchained (PEPU), with its own layer-2 network, aims to make a difference. Pepe Unchained will enable transaction speeds that are 100 times faster, while simultaneously slashing network fees with its surplus of computational power.
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The project will also open up its lightning-fast blockchain to the rest of the meme coin market. This will provide the meme coin space with a technical framework that is capable of handling the massive hype and tsunami of transaction volume that will hit the market with the next supercycle.
Beyond its scalability, Pepe Unchained will also enable the development of meme coin-focused decentralized applications. Recently, the team announced the launch of its developer grant program, which will financially support approved applicants that want to build apps on the Pepe Unchained network.
Investors Bet Big On PEPU’s Future As An Analyst Forecasts A 100X Surge
With its lightning-quick blockchain network, layer-2 capabilities, meme coin appeal and the high levels of utility the project will bring to the meme coin space, Pepe Unchained has all the characteristics needed to establish itself as a dominant player in the meme coin space.
An analyst from the 99Bitcoins YouTube channel, which has over 706K subscribers, said that PEPU could soar 100X after its launch.
There’s still time for investors to get in on PEPU during its presale stage. Selling for $0.01199, PEPU can be bought with ETH, USDT, BNB or bank card via the widget embedded on the project’s website.
Purchase PEPU tokens here. Buy before a price hike in less than 2 days to secure the best deal.
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