First Neiro (NEIRO) on Ethereum is gaining attention as signs of a potential rebound emerge. On-chain data shows reduced selling pressure, and bullish sentiment is on the rise. After hitting $0.000030 on November 12, the meme coin’s price has stabilized around $0.0020, showing promise for future gains.
Selling Pressure Declines
On November 12, NEIRO’s on-chain realized gains hit 16 billion tokens, reflecting significant profit-taking by holders. Typically, this kind of activity signals potential price declines. However, as of now, realized gains have dropped to just 2.31 billion.
This sharp decline suggests that most holders have paused profit-taking, reducing selling pressure. If this trend continues, NEIRO could be poised for a short-term price rebound.
Bullish Sentiment on the Rise
NEIRO’s Weighted Sentiment metric, which tracks overall market perception, is nearing positive territory. A rising sentiment score indicates growing bullish commentary and enthusiasm for the token.
If this sentiment continues to improve, it could create additional demand for NEIRO. Increased demand typically leads to price hikes, potentially driving NEIRO past its $0.0025 resistance level and toward double-digit gains.
NEIRO Price Prediction: What’s Next?
The 4-hour chart shows strong support at $0.0020, with bulls actively defending this level. Previously, a similar defense triggered a rally to $0.0029.
For NEIRO to repeat this pattern, it must overcome resistance at $0.0022. If buying pressure builds, a move past $0.0030 is possible.
However, renewed profit-taking or sell-offs from holders in losses could push the price down to $0.0017 instead. Sustained optimism and active trading will be critical to maintain upward momentum.
Conclusion
The NEIRO price rebound appears within reach as selling pressure eases and market sentiment improves. With strong support at $0.0020 and bullish indicators strengthening, the meme coin could be poised for a breakout above $0.0030. Keep an eye on key resistance levels and trading activity to gauge the token’s next move.
