Date: Fri, Oct 11, 2024, 09:29 AM GMT
In the cryptocurrency market today, Neiro Ethereum (NEIRO) has made headlines with an impressive surge of over 50% in just 24 hours, signaling a solid recovery for this popular memecoin.
Large Buying’s:
The primary catalyst behind this rally is significant buying activity from large institutions and whales. According to a fresh report from Spotonchain, several notable purchases have been made in the last 3 days leading up to this price jump:
- GSR Markets accumulated 15 million NEIRO tokens for approximately $939,000, which has now risen in value to $1.17 million just three days ago.
- bwecapital.eth (@Vida_BWE) withdrew 4.065 million NEIRO ($298,000) from Bybit just nine hours ago.
- A new whale, identified as 0xa1d, exchanged 158.44 ETH (worth about $375,000) for 5.15 million NEIRO tokens just ten hours ago.
- Another whale, 0x00d, swapped $309,000 worth of ETH and “First Neiro on Ethereum” for 5.114 million NEIRO tokens approximately 20 hours ago.
These large-scale purchases have certainly fueled the rise in NEIRO’s price.
What’s Ahead for NEIRO?
At the time of writing, NEIRO is trading at $0.084. It has rallied significantly since finding support at a symmetrical triangle pattern trendline around $0.055.
As momentum builds, NEIRO could target its next resistance level of $0.096, representing an 11% upside from the current price. However, traders should be aware that a slight correction may occur as profit-taking kicks in.
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