NEIRO Makes a Grand Entrance into the Top 100 Cryptos as Whales Accumulate, A Possible 50% Surge Beckons

NEIRO has been a performer this past week despite broader market uncertainty. The token has risen 65.86% over the past week, with a formidable 24-hour trading volume of $605 million, and the token's market cap has now reached $743 million.

NEIRO’s entry into the highest 100 cryptos coincides with a time of market volatility, with over 29 million tokens collected by whales. A possible 50% surge lies ahead, based on a bullish EMA crossover and technical breakout.

Regardless of broader market uncertainty, NEIRO has been a standout performer this past week. The token has surged 65.86% over the past seven days, with a massive 24-hour trading volume of $605 million, and the token’s market cap has now reached $743 million.

NEIRO’s entry into the top 100 cryptocurrencies by market cap, currently sitting at 85th place, marks an achievement among the market’s top performing assets.

However, investors should note the volatility out there as NEIRO seems to be heading higher with whale interest and technicals continuing to show bullish for further upside for the token.

Whale Accumulations Driving Recent Price Gains

Large holders have collected over 29.1 million NEIRO tokens in the past 3 days alone, with some of the notable names including GSRMarkets, who have picked up 15 million NEIRO tokens and whose holdings increased from $939,000 to $1.17 million.

However, over the past 9 hours, bwecapital.eth withdrew 4.065 million NEIRO, around $298,000, from the Bybit exchange.

Furthermore, two new whales — address 0xa1d and 0x00d — each netted over 10 million NEIRO in separate Ethereum transactions. And these aren’t just buying a token we don’t fully understand yet, these are massive purchases that definitely show people’s strong interest in the token itself.

Technical Analysis: Key Levels to Watch for NEIRO

On the NEO/USDT Chart on a 1 hour timeframe, momentum has shifted and could be set to move up again with a break above a descending trendline. A key area to watch would be the retest at the immediate support level of $0.00166450. If the retest holds, it could provide an opportunity to buy and strengthen the breakout to move past the current price of $0.00176148, which should continue to support the bull trend.

A crucial psychological resistance level to watch is at $0.00250000. If the bullish momentum continues, a surge of about 50.42% towards this target is on the cards.

Failure to hold above the $0.00166450 support may indicate a need for further consolidation before another attempt up.

Technical Indicators Pointing to Bullish Momentum

The Relative Strength Index for NEIRO is currently at 60.04, indicating moderate bullish momentum as it sits above the neutral 50 level. There is some buying pressure but not yet in overbought territory above 70, suggesting that there is still potential for further upward movement.

At the time of writing, the MACD is bullish Crossover, MACD line (0.00002030) is higher than the signal line (0.00001942).2. If this bullish sentiment persists, the positive histogram bars indicate increasing momentum, and we can expect an upward continuation of the trend in this case.

Finally, the 50 EMA at 0.00168674 and 100 EMA at 0.00162767 show a short term bullish bias; the 50 EMA is also above the 100 EMA. This crossover has also confirmed the recent breakout and if price remains above these moving averages, this trend should continue.