Nero Ethereum (ERC-20) Technical Analysis Update
Overview:
Nero Ethereum has shown strong bullish momentum after breaking the $0.040 resistance in April. The coin is currently undergoing a healthy correction after hitting a local top near $0.070 on April 25. Despite the pullback, price action remains bullish, with the key support level holding firm.
Key Technical Levels:
Support Zone: $0.055 (Major support and accumulation zone)
Resistance Levels:
Target 1: $0.070 (recent top)
Target 2: $0.100 (next leg-up if momentum continues)
Current Status:
Price is consolidating just above $0.055, resetting indicators after an overbought phase.
The structure mirrors other well-holding altcoins like BINGO, indicating resilience.
Trade Setup:
Entry: $0.055–$0.058 (on confirmed support hold)
Stop Loss: Below $0.053 (invalidation of support)
Targets:
TP1: $0.070 (approx. 25% gain)
TP2: $0.100 (approx. 75–80% gain)
Conclusion:
As long as Nero Ethereum holds above $0.055, the outlook remains bullish. A breakout toward $0.10 is possible with increased volume. However, losing $0.055 may send it back toward $0.040.