Date: Fri, Nov 08, 2024, 05:39 PM GMT
The crypto market remains bullish as Bitcoin (BTC) continues to set new all-time highs following Donald Trump’s recent U.S. election victory. This pro-crypto sentiment has led to impressive rallies in various memecoins, including First Neiro on Ethereum (NEIRO) and Goatseus Maximus (GOAT), which both saw significant gains yesterday. NEIRO and GOAT topped the gainer lists, surging by 30% and 45%, respectively, and reaching their all-time highs (ATH).
However, today’s trading session has seen both NEIRO and GOAT pull back, with NEIRO dropping 8% to $0.002215 and GOAT declining by over 10% to $0.75.
This dip appears to be driven by profit-taking from short-term traders, resulting in what looks like a healthy correction rather than a reversal. Despite the drop, both coins have reached critical support levels that could provide a foundation for a rebound.
First Neiro on Ethereum (NEIRO)
- Current Price: $0.002215
- Key Support Level: $0.002129
- Rebound Target (ATH): $0.002510
- Downside Risk Level: $0.002006
After hitting its ATH yesterday, NEIRO has retraced to a significant support level at $0.002129. This level could act as a base for a rebound if buyers step back in. If momentum continues downward, the next level of support at $0.002006 may come into play. However, if the support holds, NEIRO could attempt to reclaim its ATH at $0.002510.
Goatseus Maximus (GOAT)
- Current Price: $0.75
- Support Range: $0.68 – $0.73
- Rebound Target (ATH): $0.90
- Downside Risk Level: $0.5670
GOAT has also corrected from its ATH of $0.90 and is now testing a key support range between $0.68 and $0.73. This zone is crucial, as it could provide the stability needed for a potential rebound. If the support range holds, GOAT may attempt another run toward its ATH at $0.90. However, failure to hold this range could see the price slide down to $0.5670.
Is a Rebound in Sight?
Both NEIRO and GOAT appear to be undergoing healthy corrections after their recent rallies. With prices dipping to strong support levels, there’s potential for a rebound if buying interest returns at these levels. For NEIRO, holding the $0.002129 support could lead to a recovery back to $0.002510, while GOAT’s support at $0.68-$0.73 could serve as a springboard for a move toward $0.90.
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