The Neiro cryptocurrency is navigating an important technical phase following a long corrective period from mid-May to early July. The recent breakthrough through the resistance level shows signs of strength in price action.
Mid-Term Structure: May to July
The first half of May saw a strong rally, culminating in a high near $0.0007500. This move was followed by a multi-week correction, which gradually formed a descending range through June. The structure began shifting on July 9-11, when price successfully broke out above the $0.0004700 level, which had previously served as resistance during the downtrend.
Short-Term Momentum of Neiro
Zooming in, the short-term structure shows a clear sequence of higher lows and higher highs. After bottoming near $0.0003900, the asset has seen a steady upward movement, with the latest impulse taking it from approximately $0.0004200 to $0.0005600. The current consolidation around $0.0005300–$0.0005400 appears healthy.
Key Technical Levels
Currently, critical levels include:
**Support:** - **$0.0004700:** Previous breakout zone; holding above this level confirms bullish structure. - **$0.0004300:** Base of the recent impulse move. - **$0.0003900:** Local bottom and invalidation level for the uptrend.
**Resistance:** - **$0.0005600:** Short-term high from July 11; price failed to close above this level during the last impulse. - **$0.0006000:** Psychological round number and area of historical significance. - **$0.0007500:** May high and macro resistance.
Neiro is in a technically promising position after reclaiming its mid-term breakout level. The current trend is constructive, with the structure favoring further upside if the price can break through $0.0005600 and hold above $0.0004700. Traders should monitor for confirmation before positioning for continuation.
