{"id":564519,"date":"2024-08-14T12:14:17","date_gmt":"2024-08-14T12:14:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=564519"},"modified":"2024-08-14T12:13:30","modified_gmt":"2024-08-14T12:13:30","slug":"the-neiro-ethereum-price-plunges-18-in-a-week-as-this-new-meme-coin-races-towards-1-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/the-neiro-ethereum-price-plunges-18-in-a-week-as-this-new-meme-coin-races-towards-1-million","title":{"rendered":"The Neiro Ethereum Price Plunges 18% In A Week As This New Meme Coin Races Towards $1 Million"},"content":{"rendered":"

The Neiro Ethereum price has plunged 18% in the past week and 4% in the last 24 hours to trade at $0.2201<\/a> as of 7:15 a.m. EST on a 14% drop in trading volume to $19 million.<\/p>\n

Neiro Ethereum Price Analysis: Bulls Stage A Strong Support Zone Within The Falling Wedge<\/h2>\n

NEIRO price continues to trade within the bullish channel. Despite facing a strong support zone, the bears are still determined to push the price below the support zone at $0.1285. The support level has proven resilient, allowing buyers to regroup and increase prices. If the bulls take complete control, they could push the price above the wedge, triggering a bully rally that could catapult NEIRO to a new all-time high.<\/p>\n

\"Neiro<\/p>\n

NEIROUSD Analysis. (Source: Dextools.io)<\/p>\n

The NEIRO Ethereum<\/a> price trades below the 50 Simple Moving Average (SMA). However, it is relatively above the 200 SMA, giving the bulls a chance to drive the price again. This indicates a positive sentiment and diminishing selling pressure for the Neiro price.<\/p>\n

The Relative Strength Index (RSI) has rebounded, correcting downwards from the 50 midline level. Currently, 47 below the 50 midpoint indicates that the buying pressure for Neiro’s price is high, and this might force the RSI upwards to the overbought zone at 70.<\/p>\n

Meanwhile, the MACD indicator, although still trading along the neutral level, is also rising, supporting the bullish sentiment for Neiro Ethereum, as the increasing bullish bars and a recent crossover above the signal line have boosted bull traders’ confidence. This means there’s a high chance it could continue the uptrend, favouring the buyers and shifting momentum back to bullish.<\/p>\n

Neiro Ethereum Price Prediction: Bulls Signal A Comeback<\/h2>\n

With support from the technical indicators and moving averages, the Neiro Ethereum price could rally to a new high of $0.2115 in the coming weeks.<\/p>\n

However, if the bears gain control in a converse case, the price could drop to the support level of $0.1350. Continued downward pressure may lead to a further decline, potentially reaching the upper trendline of the wedge at $0.1315.<\/p>\n

This P2E Meme Coin Could Be A Promising Alternative<\/h2>\n

Investors looking for cryptos with a potential bullish outlook as NEIRO could also consider this new presale called The Meme Games (MGMES)<\/a>, which has amassed over $365K in funds raised<\/p>\n

According to Jacob Bury, a popular crypto analyst on YouTube, MGMES has the potential to surge 10X after its launch.<\/p>\n