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The Neiro Ethereum Price has plummeted 15% in the last 24 hours to trade at $0.01413 as of 1.45 a.m. EST on a 44% plunge in trading volume to $22 million.
The NEIRO price drop comes despite the Bybit crypto exchange announcing the listing of NEIRO on its platform.
The listing will occur on August 21 at 10 a.m. UTC, while deposits and withdrawals will be available through the Ethereum network.
📣 $NEIRO Deposits are Open With @NeiroOnEthereum
Listing time: Aug 21, 10AM UTC. Deposits and withdrawals will be available via the Ethereum network.
🌐 Learn More: https://t.co/WngPjChDr5#TheCryptoArk #BybitListing pic.twitter.com/Ycj39RgQXm
— Bybit (@Bybit_Official) August 20, 2024
Neiro Ethereum Price Analysis: Bearish Channel And Critical Support Level In Focus
The NEIRO/USD pair in the 4-hour timeframe shows several key technical elements that suggest potential price movements.
The most notable feature is the bearish channel, where the price has been trending downward within parallel lines. This channel indicates a persistent downtrend, with the price making lower highs and lower lows.
NEIROUSD Analysis Source: Dextools.io
The price is near a crucial support level, which has held up the price action multiple times in the past.
The price hovering around this support level suggests that this area could be a potential turning point.
If the price breaks below this support, it could signal further bearish momentum. However, if the support holds, a bounce-back is possible towards the upper boundary of the channel.
The 50-period Simple Moving Average (SMA) is also highlighted, and the price is currently below this SMA, which often acts as a dynamic resistance in downtrends.
If the price can break above the 50-SMA and the upper boundary of the bearish channel, it may signal a potential reversal or at least a temporary bullish move towards the target price indicated on the chart.
Neiro Ethereum Price: Technicals Indicate Mixed Signals
The Relative Strength Index (RSI) is at 44.97, slightly below the midpoint of 50, suggesting that the price is currently in a neutral to slightly bearish phase but not yet oversold. This RSI level leaves room for either a continuation of the downtrend or a potential reversal if buying interest picks up.
The Moving Average Convergence Divergence (MACD) indicator shows that the MACD line is slightly below the signal line, reinforcing the current bearish momentum. However, the histogram bars are relatively small, indicating that the bearish momentum might weaken, which could lead to a potential crossover if buying pressure increases.
If the price holds above the support level and breaks out of the bearish channel, there is a potential for a bullish move towards the target price, possibly around the previous highs near 0.1787 USD.
On the other hand, if the support level fails, the price could continue its downward trajectory, potentially leading to a more extended decline.
Traders should watch for a confirmed breakout or breakdown to gauge the next significant move.
Is SHIBASHOOT The Best Crypto To Buy Now?
As Neiro Ethereum traders gear up for a possible bull rally, investors are pumping funds into the new Shiba Inu derivative called Shiba Shootout (SHIBASHOOT), whose presale is within a whisker of hitting the $1 million mark.
This momentum has caught the attention of the 99Bitcoins crypto Youtube channel, with more than 706k subscribers, which says $SHIBASHOOT is offering “insane rewards.“
The Shiba Shootout P2E game immerses players in a Wild West-themed digital landscape.
This project goes beyond the usual meme coin boundaries, offering holders an engaging journey filled with creativity, strategic gameplay, and the excitement of a high-stakes cowboy showdown.
The core of the game is Shiba Gulch, a lively digital town that attracts Shiba enthusiasts who gather to compete against each other.
Master #Crypto strategy with #Shiba cowboys in thrilling duels for big rewards! 🌟 Join the adventure!
Sign up now to get your free $SHIBASHOOT tokens!
Jump in the fun! 🚀 https://t.co/jCeu7XMBqR pic.twitter.com/YjlGaaluBT
— shibashootout (@shibashootout) June 28, 2024
This experience is brought to life in a play-to-earn (P2E) game that’s available on both the Google PlayStore and the Apple App Store.
A significant update is on the horizon, which will introduce the ability for players to earn $SHIBASHOOT tokens as rewards.
Marshal Shiba standing proud fighting for his fellow sharpshooters 💪 in the fierce wild west 🔫 🔫 🔫 🔥 🔥 🔥
Where they talk about #shiba they will talk about #Shibashootout#cryptocurrency #blockchain #web3 pic.twitter.com/Px5JpqXCog— shibashootout (@shibashootout) August 20, 2024
In addition to P2E crypto gaming in Shiba Gulch, $SHIBASHOOT holders can earn passive income through the platform’s staking mechanism, which offers an impressive 937% annual yield.
If you want to participate in the presale, you can buy the token now for $0.0199 on the official website using ETH, BNB, USDT, or a bank card.
But don’t wait too long as the price will increase in two days.
You can buy SHIBASHOOT tokens here
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