🌎 Neiro Meme Coin Surges 15% Amid Market Turbulence

Neiro, an Ethereum-based meme coin, has experienced strong bullish momentum over the past day, despite widespread market turbulence.

Neiro’s Impressive Surge

Neiro has surged 15% in the last 24 hours, even as the broader market continues to perform lacklusterly. This significant uptrend follows a massive 36% gain on October 6, which overshadowed the 9.23% loss experienced the previous day.

Recent Performance

On October 7, the bullish momentum continued with a 24.51% rally. An additional 2.42% increase on the morning of October 8 helped push Neiro into the top spot on the gainers list.

Currently, Neiro is up by 15.3% over the past 24 hours, trading at $0.001678. Its market cap has reached $714 million, with a daily trading volume of $1.17 billion.

Technical Analysis

On the four-hour chart, Neiro has broken above the Ichimoku Cloud, signaling a potential continuation of its bullish run. The Ichimoku Cloud indicators show strong support levels amid the upsurge.

The Base Line, currently at $0.001397, is far below Neiro’s current price, suggesting that the asset has solidified a higher floor. Meanwhile, Leading Span A at $0.001495 highlights the cloud’s support level. This confirms the potential for further upward movement if the support holds. If the price consolidates around these levels without falling back into the cloud, the token may see even greater gains.

RSI and Market Sentiment

The Relative Strength Index (RSI), now at 77.55, indicates that Neiro is in overbought territory. Further, buying pressure remains high, as suggested by the Signal Line at 73.46. While this is bullish, it also signals that a correction could occur as the token becomes overextended.