{"id":566228,"date":"2024-08-19T12:06:55","date_gmt":"2024-08-19T12:06:55","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=566228"},"modified":"2024-08-19T12:06:55","modified_gmt":"2024-08-19T12:06:55","slug":"neiro-ethereum-price-plunges-15-as-the-pepe-unchained-ico-closes-on-10-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/neiro-ethereum-price-plunges-15-as-the-pepe-unchained-ico-closes-on-10-million","title":{"rendered":"Neiro Ethereum Price Plunges 15% As The Pepe Unchained ICO Closes On $10 Million"},"content":{"rendered":"
The Neiro Ethereum price <\/span>plummeted<\/span><\/a> over 15% in the last 24 hours to trade at $0.1219 as of 5:33 a.m. EST.<\/span><\/p>\n The NEIRO price is now down more than 39% over the past 7 days, though it remains up a stratospheric 797% over one month. <\/span><\/p>\n <\/p>\n 4-hour chart for NEIRO\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/em><\/p>\n The Neiro Ethereum<\/a> price has been stuck in a descending price channel over the past few days after it printed a series of lower highs and lower lows during this period. NEIRO is still trading in this bearish channel, and is therefore at risk of losing the key support level at $0.1153 in the coming 24 hours.<\/span><\/p>\n Should NEIRO drop below $0.1153 through the course of the next trading day, it could be exposed to the risk of plunging to the next technical safety net at $0.0494 in the following 24-48 hours.<\/span><\/p>\n However, the Neiro Ethereum price maintaining a position above $0.1153 for the next 24 hours might prevent the bearish thesis from happening. <\/span><\/p>\n In this alternative scenario, the meme coin could try to break out of the medium-term descending channel. To do this, NEIRO will first have to close a 4-hour candle above the $0.1711 resistance.<\/span><\/p>\n Overcoming the $0.1711 threshold might give the Neiro Ethereum price the foundation needed to keep climbing in the short term. This could then result in the altcoin rising to as high as $0.2366.<\/span><\/p>\n From a technical perspective, indicators on NEIRO’s 4-hour chart warn the crypto might keep falling in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flashing bearish. <\/span><\/p>\n RSI readings have dropped from 43 to 34 over the past 24 hours to indicate that NEIRO<\/a> is currently oversold and that bears have the upper hand against bulls. <\/span><\/p>\n With the RSI line sloped negatively, it seems sellers still plan on exerting pressure on the Neiro Ethereum price in the coming 24 hours.<\/span><\/p>\n Meanwhile, the MACD line is positioned below the MACD Signal line. Traders generally see this orientation as a sign that a crypto is in a short-term negative cycle.<\/span><\/p>\n With the MACD Histogram values gradually falling deeper into the red, it seems NEIRO’s bearish momentum is picking up steam as well.<\/span><\/p>\nThe Neiro Ethereum Price Trapped In A Bearish Channel<\/span><\/h2>\n
Technicals Warn Bears Might Keep Pushing The Neiro Ethereum Price Down<\/span><\/h2>\n