Neiro On ETH Price Skyrockets 104% As Binance Launches NEIRO Perpetual Contract And This Shiba Inu Derivative Soars Past $1 Million

On Sep 7, 2024

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The Neiro on ETH price skyrocketed 104% in the last 24 hours to trade at $0.1356 as of 08:58 p.m. EST on trading volume that soared 267% to $165 million.

The pump was spurred by news that Binance Futures launched a NEIRO ETHUSDT Perpetual Contract on September 6 at 14:00 UTC.

#Binance Futures will launch USDⓈ-Margined $NEIROETH Perpetual Contract at
🗓️ September 6 2024, 14:00 (UTC)
Read more ➡️ https://t.co/1jDjSh8Lol pic.twitter.com/VAuoljCRCL
— Binance Futures (@BinanceFutures) September 6, 2024

The new product offered by the world’s biggest cryptocurrency exchange allows investors to trade Neiro Ethereum against USDT with up to 75X leverage.

Neiro On ETH Price Prediction: NEIRO Set For A Trend Continuation

After the listing on Binance, the Neiro on ETH price recovered from the recent downtrend, with the bulls using the $0.0235 support to push the price of Neiro On ETH through a markup phase to as high as $0.20.

The recent price movements have resulted in the NEIRO price movements to trade within the symmetrical triangle, as the bulls aim to sustain the rally.

NEIROUSD Chart Analysis (Source: GeckoTerminal)

NEIRO now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the uptrend.

Meanwhile, the Relative Strength Index (RSI) trades slightly below the 70-overbought region, currently at 60, which shows that the asset is still overvalued. The RSI also shows signs of a rebound from this level.

The Moving Average Convergence Divergence (MACD) trades above the zero line, affirming the bullish momentum.

If the current uptrend continues, the Neiro On ETH price may continue to soar, as the bulls target $0.20. The golden cross around

However, the blue MACD line crosses below the orange signal line, representing a bearish crossover. The red bars on the histogram are also beginning to form, which shows that the positive momentum may be diminishing.

If the bears take advantage of this trend, NEIRO could plunge back to the $0.0879 support (50-day SMA).

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Shiba Sharpshooter is centered around a vibrant digital settlement known as Shiba Gulch. Marshal Shiba, the community leader, rallies Shiba Inu supporters for epic meme battles, friendly banter, and final showdowns.

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