The First Neiro on Ethereum Has Reached a New All-Time High (ATH) of $0.0025. Will This Meme Coin Continue Its Bullish Trend This Month?

With a 54% surge in the last 7 days, NEIRO is inching closer to a billion-dollar market cap. On the daily chart, the recovery rally has resulted in four consecutive bullish candles, driving the price to nearly a 100% increase.

The First Neiro on Ethereum (NEIRO) has witnessed a remarkable surge in the last 24 hours, setting a new all-time high (ATH) of $0.0025. This meme coin has experienced a rapid trend reversal, attracting attention and sparking speculation about its future price movements.

With a 54% surge in the last 7 days, NEIRO is inching closer to a billion-dollar market cap. On the daily chart, the recovery rally has resulted in four consecutive bullish candles, driving the price to nearly a 100% increase.

As the bullish momentum builds, the broader market is watching closely to see if the meme coin will continue its bullish trend this month. With the token now trading at $0.0023, the likelihood of reaching the $0.0030 mark increases. Will this bull run continue? Let's explore.

NEIRO Price Analysis: 4-Hour Chart

In the 4-hour chart, we can observe a double bottom reversal in the NEIRO token, which has led to a breakout from the overhead resistance line of a falling-channel pattern. This bullish recovery with the breakout rally accounts for an 85% surge from $0.001266 (the double bottom's baseline) to the current market price.

The breakout has exceeded the previous ATH at $0.0021 and is now challenging the 1.272 Fibonacci extension level. At press time, NEIRO is trading at $0.002336, with a 24-hour surge of 12.31%.

Moreover, the token has registered a new all-time high of $0.0025 during the last 24 hours.

The surge in buying pressure has triggered bullish crossovers in the exponential moving averages (EMAs). Following the golden crossover and the recent 50-100-day bullish crossover, all key moving averages are aligned bullishly.

However, we can also observe a lack of momentum to exceed the $1.272 Fibonacci level at $0.00249, which is evident in the bearish crossover in the MACD indicator.

Considering the Fibonacci levels and the lack of momentum, we could see a temporary sideways trend on the 4-hour chart. This may lead to a retest of the $0.002160 level or the 100% Fibonacci level. Following a retest and subsequent reversal, the bull run is likely to continue, especially if the broader crypto market remains bullish.

The next price targets for the First Neiro on Ethereum are $0.00249 and the $0.0030 psychological mark. Additionally, on a longer-term horizon, the 1.618 Fibonacci level at $0.0051 is a potential target.

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