{"id":562461,"date":"2024-08-08T15:10:05","date_gmt":"2024-08-08T15:10:05","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=562461"},"modified":"2024-08-08T12:25:45","modified_gmt":"2024-08-08T12:25:45","slug":"neiro-ethereum-price-prediction-neiro-plunges-10-but-this-pepe-2-0-presale-goes-ballistic-with-7-6m-raised","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/neiro-ethereum-price-prediction-neiro-plunges-10-but-this-pepe-2-0-presale-goes-ballistic-with-7-6m-raised","title":{"rendered":"Neiro Ethereum Price Prediction: NEIRO Plunges 10%, But This PEPE 2.0 Presale Goes Ballistic With $7.6M Raised"},"content":{"rendered":"
The Neiro Ethereum price <\/span>plunged<\/span><\/a> over 10% in the last 24 hours to trade at $0.2474 as of 7:35 a.m. EST as investors dump their holdings in the meme coin.<\/span><\/p>\n This slump in the NEIRO price follows a <\/span>parabolic surge<\/span><\/a>, when a tsunami of Neiro tokens flooded the market after the owner of Kabosu, the late Shiba Inu dog who inspired the creation of Dogecoin, announced the adoption of a new Shiba Inu dog by the name of Neiro.<\/span><\/p>\n Many investors believe NEIRO could become the next DOGE. To back this bullish outlook, some in the meme coin community have noted several major milestones that the project has achieved since its market debut. <\/span><\/p>\n For example, NEIRO reached a market cap of $200 million in just 6 days. This same feat took PEPE 10 days to accomplish.<\/span><\/p>\n <\/p>\n 4-hour chart for NEIRO\/USD (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n The Neiro Ethereum price fell out of a medium-term positive price channel in the last 12 hours. As a result, the meme coin is now testing the key support level at $0.2151. A break below this technical safety net could put NEIRO at risk of plunging to the next support level at $0.1414 in the following 24-48 hours.<\/span><\/p>\n There is still the possibility that traders identify the Neiro Ethereum price’s current level as a buy opportunity. This might prevent a 4-hour candle close lower than $0.2151 within the next 12 hours, which could then lead to the crypto climbing. In this alternative scenario, NEIRO might attempt a challenge at the $0.2927 resistance level. <\/span><\/p>\n Technical indicators on NEIRO’s 4-hour chart warn that the Neiro Ethereum price might keep falling through the course of the next 24 hours. More specifically, Relative Strength Index (RSI) readings have been decreasing in the last trading session. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is on the verge of triggering a bearish technical flag.<\/span><\/p>\n Falling RSI values are usually seen as a sign of diminishing buyer strength. Although the current RSI reading is above the 50 benchmark to signal bulls have the upper hand against bears, the negative slope of the RSI suggests buyers could soon lose their advantage.<\/span><\/p>\n Momentum might shift in favor of bears soon as well. This is evident by the narrowing gap between the MACD and MACD Signal line. The prior is now attempting to cross below the latter. An intersection between these two technical indicators could suggest that the Neiro Ethereum price has entered a short-term negative trend.<\/span><\/p>\n If these bearish signs are validated, <\/span>NEIRO<\/span><\/a> might lose the support of the $0.2151 mark.<\/span><\/p>\nThe Neiro Ethereum Price Exits A Bullish Channel<\/span><\/h2>\n
Technicals Suggest The Neiro Ethereum Price Could Lose The $0.2151 Support<\/span><\/h2>\n