NEIRO Shows Signs of future Comeback

First Neiro on Ethereum (NEIRO) is gaining attention as it shows promising signs of a price rebound. Recent data highlights a reduction in selling pressure, with on-chain profit-taking metrics dropping significantly. Earlier this month, NEIRO saw a notable spike in daily realized profits, signaling heavy selling activity. However, this has now eased, reflecting reduced selling momentum.

The decline in profit-taking suggests that most NEIRO holders are holding onto their investments. On-chain data indicates that realized profits have plummeted from billions of tokens to much lower levels. This trend signals that fewer traders are cashing out, which could create room for upward price movement if demand increases.

Adding to the optimism is a rise in NEIRO’s Weighted Sentiment. This metric captures how investors feel about the token. Positive sentiment is growing, suggesting increasing confidence in the token's future potential. Historically, when Weighted Sentiment rises alongside reduced selling pressure, it often results in price gains.

Market charts reveal that NEIRO's price has tested key support levels. The token has bounced back from similar levels in the past, and if this pattern holds, it could again push higher. For this to happen, increased buying interest will be crucial. Sustained optimism in the market combined with stronger trading activity could help NEIRO surpass its recent hurdles.

While these signals are promising, traders should remain cautious. Any significant profit-taking or drop in demand could dampen this momentum. Still, the overall market environment appears to favor a potential upward move for this meme coin in the near term.