Neiro Ethereum Price Plunges 40% In A Week As Investors Pivot To This Base Meme Coin For Its 807% APY

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The Neiro Ethereum price is down over 40% in the last week following a 1% loss in the past 24 hours to trade at $0.1364 as of 11:45 p.m. EST.

Focusing on the longer monthly time frame shows that the NEIRO price remains comfortably in the green by more than 888%.

The Neiro Ethereum Price Trying To Escape A Bearish Channel

4-hour chart for NEIRO/USD (Source: GeckoTerminal)

The Neiro Ethereum price is trying to escape a medium-term negative price channel and has recently entered into a consolidation phase between $0.1172 and $0.1752.

Should the meme coin continue to oscillate within this range for the next 24 hours, it might finally exit the descending channel. This could then lead to a big move for NEIRO.

If traders identify the crypto’s current level as a buy opportunity, then the Neiro Ethereum price will likely attempt to flip the resistance level at $0.1752 into support.

Thereafter, the crypto might have the technical foundation needed to keep climbing in the following 24 hours. NEIRO could subsequently rise to as high as $0.2460 in the short term.

On the other hand, bears gaining control of the Neiro Ethereum price might lead to the meme coin falling below the immediate support level at $0.1172.

This will then expose the crypto to the risk of potentially plunging to as low as $0.0657 in the following couple of days.

Technicals Suggest The Neiro Ethereum Price Could Go Either Way

From a technical perspective, indicators on NEIRO’s 4-hour chart are sending mixed signals. On one hand, the Relative Strength Index (RSI) shows bears have the upper hand against bulls. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator suggests NEIRO is currently in a bullish trend.

Throughout the last couple of days, RSI readings have fallen from 51 to the low 40s. Currently, the RSI remains below the 50 benchmark, signaling that sellers are stronger than buyers.

With the negative slope of the RSI line, it seems bears are growing stronger as well. Traders might see this as a warning of an impending drop in the Neiro Ethereum price.

The MACD line has also dropped towards the MACD Signal line in the last 24 hours. However, the prior remains positioned above the latter, which indicates that NEIRO is in a short-term positive trend.

With indicators on NEIRO’s 4-hour chart sending mixed signals, traders are likely waiting for a clear indication of the crypto’s next price movement. This could appear in the next 12 hours, as the Neiro Ethereum price approaches the upper boundary of the medium-term descending channel.

While traders wait to see how the Neiro Ethereum price will react to the upper boundary of the price channel, investors are flocking to Base meme coin Base Dawgz (DAWGZ), which YouTuber ClayBro, with 130,000 subscribers, says ”will make millionaires.”

A Base Meme Coin That Can Hop Between Some Of The Biggest Chains In The Web3 Space

Base Dawgz (DAWGZ) is a new meme coin in the layer-2 Base ecosystem that is looking to replicate the early success of its predecessor Brett.

Unlike the majority of meme coins in the market, Base Dawgz comes with high levels of utility given its cross-chain capabilities.

Powered by Wormhole and Portal Bridge, the meme coin gives investors the ability to seamlessly transition between some of the most active and liquid networks in the Web3 space.

The list of supported networks include Avalanche, Ethereum, Solana, Binance Smart Chain and the layer-2 network Base.

With its multi-chain presence, investors can participate in DeFi yield-generating opportunities on any of the supported networks as soon as they emerge.

Its multi-chain presence combined with its appeal to meme coin investors has excited renowned crypto YouTuber ClayBroAttractive Staking Rewards On Offer To Early Investors

Anyone who buys and stakes DAWGZ during its ongoing presale phase will unlock access to an 807% APY.

Investors have been rushing to get in on this opportunity, which is evident by the more than $2.9 million that has been sent to the meme coin’s ICO so far.

Around 37% of the token’s supply has also been staked already.

GM $DAWGZ and welcome to a new week!

We are so close to reaching $3M! Just a small push and we’ll be there 🪂 pic.twitter.com/PS9UGfwhMb

— Base Dawgz (@BaseDawgz) August 19, 2024