First Neiro, a token on Ethereum, has captured attention after being listed on Binance, sparking an 856% price surge in just one day. This massive increase brought Neiro to an all-time high, raising the question: Can Neiro sustain this momentum and follow in the footsteps of Dogecoin?
Neiro’s Explosive Growth After Binance Listing
The Binance listing triggered a stunning 800% rise in Neiro’s price over the past week. As of now, Neiro is trading at $0.00040359, marking a 24-hour gain of 22.69%. The token’s market cap has skyrocketed to $166.76 million, with a 24-hour trading volume reaching $424.8 million.
Despite hitting some resistance after its initial spike, Neiro remains in a strong position. The token’s price is above the upper Bollinger Band, signaling powerful momentum. However, this also indicates that Neiro might be overbought, suggesting a potential price correction soon.
Is a Price Correction on the Horizon?
Neiro’s Relative Strength Index (RSI) is currently at 84.63, well above the overbought threshold of 70. When RSI reaches this high, it often signals that traders may start taking profits, leading to a price correction.
Neiro faces strong resistance at $0.0004401. However, if it manages to break through, the upward trend could continue. On the downside, the first major support level sits at $0.00015806. If Neiro drops below this, it may test lower support at $0.00001442. Despite the potential for a pullback, market enthusiasm could keep Neiro overbought for a while.
Will Neiro Replicate Dogecoin’s Success?
While it’s too early to tell if Neiro will reach the heights of Dogecoin, its recent performance has certainly attracted attention. Investors should watch closely to see if the momentum continues or if a correction is on the horizon.
