NEIRO Price Analysis: Whale Buys $1.53M as NEIRO Jumps 215% – What’s Next?
Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...
The NEIRO price has dived by 14% in the past 24 hours, dipping to $0.001038 as the wider cryptocurrency market moves by 0% today.
Despite this noticeable correction, NEIRO remains up by a healthy 21% in a week and by a whopping 3,000% in a month, with the Ethereum-based meme coin exploding since Binance announced its listing for it on September 15.
While it has lost some momentum in the past day, it remains very much in demand, with a whale buying $1.53 million of the coin this week.
This would indicate that further rallies aren’t too far away, particularly if more exchanges list the new alt.
After dipping over the past day, it looks as though the NEIRO price is ready to bounce back up again quite soon.
Its current price has fallen below its 30-period moving average (orange) is about to bounce off its support level (green), which has risen significantly this week.
It’s also interesting that NEIRO’s 30-period average has now been below the 200-period average (blue) for a couple of weeks, implying that the token has actually been in an undervalued position for too long.
However, it’s not clear when a rebound will arrive, with NEIRO’s relative strength index (purple) struggling to climb above 50, which is where it would gain real momentum.
Having said that, this week has seen whales begin stocking up on the meme coin again, with one particular trading sitting on a small fortune of 17.71 million NEIRO.
One other whale has now accumulated accumulated $2.96 million in NEIRO, indicating the growing belief that the coin will rally strongly
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