"NEIRO drops 12% after sharp rise — what caused the sudden crash?"

The NEIRO currency witnessed a sharp decline of 12.68% after a strong increase, with the price falling from $0.00064218$ to $0.00055872.

The drop came after the currency exceeded a resistance range, leading to strong selling pressure.

Technical indicators such as Bollinger Bands and MACD indicate that the market was in a state of overbought, with signs of weakness in upward momentum.

The price is currently close to the middle line of the Bollinger Band at $0.00037747, which is a monitoring area to determine the upcoming trend.

There is still active trading on Binance, indicating ongoing interest from traders.

There are concerns that the market may enter a correction or consolidation phase, despite clear support at some price levels.

Investor sentiment is currently changing due to this rapid decline, and caution is expected to continue in the upcoming period.

CoinMarketCap