NEIRO Rebound to $0.0030 Likely as Profit-Taking Stays Minimal

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As a seasoned researcher with years of experience in the crypto market, I have seen my fair share of bull runs and bear markets. The recent developments with First Neiro on Ethereum (NEIRO) seem to be pointing towards an imminent rebound.

The potential comeback for First Neiro (NEIRO) could be imminent, as noted by BeInCrypto, who pointed out a decrease in selling pressure. On November 12th, the value of NEIRO rose to $0.000030.

At present, the value has dropped to $0.0020. Nevertheless, in-depth blockchain examination hints that this meme coin may struggle to fall significantly below this point.

First Neiro on Ethereum Sees Bullish Sentiment

As an analyst, I observed on November 12th that NEIRO’s daily on-chain volume in profits exceeded 16 billion. This particular metric represents the number of tokens that are currently in holders’ hands and showing a profit. Generally, when this value rises, it indicates that many holders have realized substantial gains. This could potentially lead to a decrease in price due to sell-offs.

Conversely, a drop in the given metric suggests that the demand to sell NEIRO has lessened. At present, the on-chain realized gains have decreased to approximately 2.31 billion, indicating that the majority of NEIRO holders are no longer realizing their profits.

If maintained, the recovery of NEIRO might occur swiftly in the near future. More specifically, this rapid recovery could push the price above $0.0025, as increased interest in the token often results in significant price increases exceeding 10%.

Additionally, it’s worth noting that the Weighted Sentiment for NEIRO is on an upward trend. This particular metric gauges the general opinion of a cryptocurrency among market participants. An increase in sentiment signifies more optimistic or bullish commentary, while a decrease suggests pessimistic or bearish views are prevalent.

At present, NEIRO’s Weighted Sentiment is almost moving into optimistic regions, suggesting a possible change in market opinion towards being bullish. Should this pattern continue, it might stimulate interest in the meme coin, potentially causing NEIRO’s price to rise.

On the other hand, maintaining a positive outlook and the corresponding trading actions are essential for this trend to lead to substantial price increases.

NEIRO Price Prediction: Notable Hike Coming

It seems on the 4-hour chart that the bulls are holding strong at the $0.0020 level, which previously led to a price surge of NEIRO up to $0.0029.

If the meme coin intends to follow this trend again, it will encounter a potential obstacle at approximately $0.0022. Consequently, if there’s an increase in buying power, a recovery for NEIRO might be confirmed. If this happens, the value of the meme coin could potentially exceed $0.0030.

If profit-taking or selling by those in loss occurs again, there’s a possibility that the predicted price may not materialize. Alternatively, the token might decline to $0.0017 instead.

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2024-11-20 01:10