NEIRO coin soared 50% in 24 hours
NEIRO coin achieved an astonishing increase in 24 hours, attracting widespread attention from the market. This surge not only echoes the overall recovery of the meme coin market, but is also closely linked to the market rebound after Bitcoin broke through the $64,000 mark.
In this wave of NEIRO coin's rise, whale activity played an important role. Data shows that a whale obtained $1.8 million worth of NEIRO during the rebound. The buyer named "rektdolphin.eth" successfully seized this wave of rising opportunities by exchanging PEPE and ETH, realizing a profit of $334,000.
So, where will NEIRO coin go next? From the technical indicators, the recent rebound started from the 38.2% Fibonacci retracement level on the price chart. In the past few hours, the trading volume has shown a triple-digit growth, and the rise in OBV (total trading volume) also highlights the market's activeness.
However, OBV peaked near the recent resistance level of 997 billion. If the OBV fails to break through this resistance level, the rally could temporarily cool down. In addition, the RSI on the lower timeframe charts is also sending overbought signals, which further increases the risk of a potential pullback, especially if profit-taking intensifies.
If a pullback does occur, the 23.6% ($0.00119) and 38.2% ($0.0009) Fibonacci retracement levels will become key support levels in the short term. Conversely, if the rally continues, the NEIRO coin is expected to touch the $0.002 level, especially if Bitcoin continues to rise.
In the derivatives market, data shows that there is a large financial leverage (23.6%) in liquidity below $0.0014 and $0.0012. These leveraged long positions may trigger a liquidity rush and push the NEIRO price down before continuing the recovery. However, the derivatives market shows a lot of interest from speculators, but the overall direction is unclear. Both volume and open interest (OI) have achieved triple-digit growth, which indicates huge market interest. This wave of NEIRO's rise has brought new vitality to the meme coin market.
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