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The First Neiro on Ethereum (NEIRO) is experiencing a surprising increase in price, yet holders remain steadfast despite recent gains.
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The notable rise in active and new addresses over the past week suggests strengthening investor interest and confidence in NEIRO’s future potential.
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According to Santiment, this price breakout indicates a bullish trend, with significant support from a growing number of active participants in the NEIRO ecosystem.
NEIRO price surges 20% as holders show resilience; active addresses increase, signaling strong investor sentiment and potential for new highs.
Investor Resilience Despite NEIRO’s 20% Surge
In the last 24 hours, First Neiro on Ethereum (NEIRO) has registered a remarkable price increase of 20%, pushing the token to a trading value of $0.0021. Despite this surge, most holders are choosing to retain their investments, reflecting a prevailing belief that NEIRO’s upward trend is only beginning. This sentiment reveals a collective anticipation among investors regarding the token’s future performance.
Data from Santiment indicates that the realized profits from daily transactions are significantly lower than in previous spikes, suggesting that many investors are opting to hold onto their NEIRO rather than cashing out. Notably, the transaction volume in profit stands at around 12.32 billion, quite muted compared to the peaks seen in prior price rallies.
Understanding the psychology of NEIRO holders is essential; their decision to hold during this price increase might be informed by past experiences, where early profit-taking led to missed opportunities as the price subsequently soared.
Growing Network Activity Underpins Positive Sentiment
Further solidifying NEIRO’s bullish outlook is a substantial surge in network activity. IntoTheBlock reports an elevated engagement with a 130% increase in active addresses over the past week, alongside an influx of new addresses. This growth in network participation is a critical indicator of rising demand and interests, reflecting an expanding user base for NEIRO.
The surge in new address creation points to a broader recognition and adoption of NEIRO, potentially positioning it for sustained upward movement. The rise in active addresses highlights heightened user engagement, suggesting that investors are not merely passive but are likely actively involved in trading and utilizing NEIRO.
Technical Analysis: NEIRO Eyes a Potential Breakout
From late October to early November, NEIRO’s price witnessed a decline from $0.0017 to $0.0013. However, recent technical indicators suggest that the downward pressure is easing. The token has successfully broken out of a descending trendline, signaling a potential shift in its price trajectory.
The support at around $0.0013 has prevented further declines, and the current readings of the Average Directional Index (ADX) point toward a strengthening uptrend. With the ADX now at 42.49, this suggests that should the upward momentum continue, NEIRO may not only reach but exceed its previous all-time high, reinforcing bullish investor sentiment.
Conclusion
The current market dynamics surrounding NEIRO demonstrate a complex interplay between rising prices and investor behavior. While a significant number of holders are choosing to retain their tokens, the growing network activity and breakout in price trends offer a promising outlook. Should current trends persist without major profit-taking, NEIRO may break through the $0.0023 level and potentially set a new record high. For investors, this indicates a pivotal moment where monitoring market conditions and sentiment will be essential for making informed decisions.
