- NEIRO is pressing a major descending trendline, with technical setups indicating a possible breakout that could trigger a 230% rally.
- Market sentiment indicates that people are bullish with long positions vastly outweighing shorts in Binance and OKX exchange.
- The technical indicators (MACD and RSI) indicate increasing momentum and this is encouraging NEIRO to move higher to the past swing highs.
NEIRO is pressing against a major descending trendline on the daily chart, signaling a potential breakout. Traders are closely monitoring this level as a decisive daily close could trigger strong upward momentum.
NEIRO Targets Major Trendline Break
The NEIRO/USDT daily chart shows price locked under a descending trendline for several months, with previous attempts to break higher consistently rejected. This resistance has maintained a prolonged bearish structure.
The market is now observing renewed bullish strength as NEIRO presses against this key boundary. A successful daily close above the trendline could mark a structural shift, moving the market from a downtrend toward a potential trend reversal.
Clifton Fx highlighted NEIRO’s attempt to break the major trendline, noting that a successful breakout could trigger a massive bullish rally. Technical projections suggest the price could rise to $0.00130, with momentum potentially accelerating once the resistance is breached.
Bullish Market Sentiment
Market positioning shows extreme bullish sentiment across main exchanges. Overall, long positions outnumber shorts. The top traders in the market have over 3 times long positions compared to short positions. When the top traders hold that much in longs, it shows confidence in more upward movement.
If NEIRO breaks the trendline decisively, buying pressure combined with short covering could drive prices higher. Failure to break this level could result in another rejection, maintaining the downtrend and keeping price movement range-bound.
The current setup indicates that traders are preparing for a pivotal moment. Long positioning and trading volumes suggest readiness for sustained momentum if the breakout occurs.
Technical Indicators Signal Strength
Technical indicators support the potential for a bullish move. The MACD line has crossed above the signal line, with rising green histogram bars pointing to increasing momentum for buyers.
The RSI is currently at 58.16, trending upward but still below the overbought zone. This allows for additional bullish expansion without immediate exhaustion.
Price action shows a sequence of higher lows, suggesting growing strength ahead of the trendline test. If buying volume continues to support the move, NEIRO could extend toward previous swing highs, confirming the potential for a strong rally.
