- First Neiro on Ethereum (NEIRO) has dropped 8% in 24 hours and 16% for the week as Bitcoin fell to $67K instead of breaking $70K.
- NEIRO appears to be repeating a pattern where it previously rallied 170% after retracing to key support levels on October 3.
- The token is currently trading at $0.001724 after a 50% rally and subsequent drop to a key support level.
- If the pattern repeats, NEIRO could potentially target its resistance level of $0.01875 in the coming hours.
Date: Mon, Oct 21, 2024, 03:31 PM GMT
In the cryptocurrency market today, unexpected movements are shaking things up. Many traders anticipated Bitcoin (BTC) would break through the $70K mark, but instead, it has dropped to around $67K. This decline has impacted various major memecoins, including First Neiro on Ethereum (NEIRO), which has seen a price drop of nearly 8% in the last 24 hours, bringing its weekly loss to a total of 16%.
Is NEIRO Repeating the Same Pattern?
Despite the recent dip, NEIRO’s price action suggests it could be gearing up for another big move. On October 3, the token retraced to a key support level after a 73% rally. From that point, NEIRO surged nearly 170%, catching many by surprise.
Now, NEIRO appears to be following a similar trajectory. After a 50% rally from a previous support zone, it has again dropped near a key level, showing potential signs of another reversal. As of now, NEIRO is trading at $0.001724. If history repeats, the token could aim for its $0.01875 resistance level in the coming hours.
What’s Next for NEIRO?
If NEIRO continues to mirror its previous patterns, the next few hours could present an opportunity for traders to capitalize on its momentum. However, given the volatile nature of the crypto market, it’s essential to remain cautious.
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