NEIRO'S RESISTANCE RUN - IS A REVERSAL AROUND THE CORNER?Symbol - NEIROUSDT
Among the limited number of digital assets currently exhibiting upward momentum, NEIROUSDT stands out. However, its primary drawback lies in its position near the lower boundary of its trading range. This suggests the potential accumulation of liquidity ahead of a further decline.
NEIROUSDT is currently exhibiting signs of short-term strengthening, moving toward the upper resistance boundary of its consolidation range, while Bitcoin continues its corrective movement. A significant resistance and liquidity zone lies ahead at 0.000187, Any short-term gains could be undermined by a potential false breakout, followed by a reversal.
It is important to note that the presence of a coin near its bottom does not preclude the possibility of further downward movement. There is still room for additional decline. Presently, the price remains confined within a consolidation range amidst a broader downtrend, with no convincing signs of recovery. The last upward move was met with considerable selling pressure, leading to a sharp pullback.
Key Resistance Levels: 0.000187, 0.0002045
Key Support Levels: 0.000169, 0.000154
A false breakout above resistance, followed by a reversal toward the lower boundary of the range, is likely. Additionally, an extended consolidation near the resistance zone is not ruled out. During this phase, price may test the 0.00020 liquidity area before resuming its downward trend and potentially forming a new low.
