First Neiro on Ethereum (NEIRO) rebound could be on the cards, as observed by BeInCrypto, which highlighted a reduction in selling pressure. On November 12, NEIRO’s price surged to $0.000030.

However, at press time, it had decreased to $0.0020. But this on-chain analysis reveals that the meme coin might fail to go extremely lower than this.

First Neiro on Ethereum Sees Bullish Sentiment

On November 12, NEIRO’s daily on-chain volume in profits was over 16 billion. This metric measures the number of tokens in realized profits. Typically, when the value increases, it means that holders have realized a lot of gains, and the price might decrease.

On the other hand, a decrease in the metric implies that selling pressure has decreased. As of this writing, the on-chain realized gains have dropped to 2.31 billion. This decline indicates that most NEIRO holders have halted booking profits.

If sustained, the NEIRO’s rebound could happen in the short term. Specifically, the potential rebound could see the price soar higher than $0.0025 as high demand for the token usually leads to double-digit hikes.

Further, NEIRO is experiencing a surge in its Weighted Sentiment, a metric that captures market participants’ overall perception of a cryptocurrency. A rising sentiment indicates growing bullish commentary, whereas a decline reflects negative market views.

Currently, NEIRO’s Weighted Sentiment is nearing positive territory, signaling a potential shift toward bullish market sentiment. If this trend persists, it could boost demand for the meme coin, possibly driving NEIRO’s price higher.

However, sustained optimism and accompanying trading activity will be crucial for this momentum to translate into meaningful price gains.

NEIRO Price Prediction: Notable Hike Coming

On the 4-hour chart, it appears that bulls are defending the $0.0020 support. The last time such happened, NEIRO’s price rallied to $0.0029. 

If the meme coin aims to repeat such a pattern, it will have to contend with the $0.0022 resistance. Therefore, if buying pressure increases, NEIRO rebound could be validated. Should that be the case, the meme coin’s value could surpass $0.0030.

However, if profit-taking comes into play again or holders in losses sell, this prediction might not come to pass. Instead, the token could drop to $0.0017.

Bitcoin (BTC) has declined from its $93,495 peak, now trading at $92,428 as profit-taking accelerates.

Market sentiment, marked by “extreme greed,” signals a possible price reversal as traders increasingly lock in gains.

Bitcoin’s Rally Prompts Its Long-Term Holders To Sell

BeInCrypto’s assessment of BTC’s on-chain performance has shown a spike in coin distribution by its long-term holders (LTHs). These are investors who have held their coins for an extended period, typically defined as more than 155 days. 

Per Glassnode’s data, the coin’s Hodler Net Position Change dropped to a five-month low on Tuesday. This metric reflects the overall buying and selling activity of long-term Bitcoin holders. This decline indicates that the group sold over $3 billion worth of BTC on that day — their highest single-day sell-off since June 26.

Notably, BTC transactions have been significantly profitable over the past few weeks. As of this writing, the ratio of the coin’s daily transaction volume in profit to loss (assessed using a 30-day moving average) is 2.01. This suggests that for every BTC transaction that has ended in a loss, 2.01 transactions have returned a profit. 

Moreover, BTC’s market value to realized value (MVRV) ratio suggests that the coin may be overvalued, prompting more holders to sell. According to Santiment’s data, BTC’s current MVRV ratio is 182.06%.

At 182.06%, BTC’S MVRV ratio suggests that its current market value is significantly higher than its realized value. Therefore, if all coin holders were to sell, they would, on average, realize 182.06% profit. 

BTC Price Prediction: All Lies With the Coin’s Long-Term Holders

At press time, BTC trades at $92,428, slightly below its cycle peak of $93,495. If LTHs persist in their profit-taking activity, BTC’s price will fall further from this high, toward support below $90,000. According to readings from the coin’s Fibonacci Retracement tool, the next major support is formed at $83,983. 

However, if selling activity stalls and the coin sees a spike in new demand, its price will reclaim the $93,495 all-time high and attempt to rally past it. 

GRASS price has shown remarkable activity since its listing on major exchanges at the end of October. In its first week, the price skyrocketed from $0.65 to $1.60. However, recent metrics show GRASS entering a neutral zone, with its RSI at 51 and ADX at 14.84, indicating moderate recovery and weak trend strength.

As traders watch key resistance and support levels, the potential for a 44% surge or a 26% correction depends heavily on the strength of its ongoing uptrend.

GRASS Is Currently In The Neutral Zone

The Relative Strength Index (RSI) for GRASS has climbed to 51, up from a low of approximately 35. This shift indicates a recovery in momentum, moving from oversold territory toward a more balanced state. RSI, a key momentum indicator, measures the strength and speed of price movements, providing insight into whether an asset is overbought or oversold.

Values below 30 typically signal oversold conditions, while readings above 70 suggest overbought levels. At 51, GRASS’s RSI reflects neutral momentum, implying neither strong buying nor selling pressure currently dominates.

Despite being down nearly 15% over the past seven days, GRASS price has surged almost 10% in the last 24 hours. The RSI’s movement to 51 aligns with this short-term rebound, suggesting a shift toward stabilization after recent declines.

With RSI in the neutral zone, GRASS may be poised for consolidation or moderate gains, though a break above 70 could signal stronger upward momentum for one of the biggest airdrops of 2024.

GRASS Current Trend Isn’t That Strong

The Directional Movement Index (DMI) for GRASS reveals an ADX value of 14.84, suggesting a weak market trend. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction. Typically, values above 25 signal a strong trend, while values below 20 indicate a lack of clear trend momentum.

At 14.84, the ADX suggests that GRASS is experiencing a period of low trend strength, which means that price movements are less likely to follow a sustained direction.

The DMI also includes the +DI (Directional Indicator) and -DI, which provide insights into the direction of the price trend. GRASS’s +DI is at 21.26, indicating slightly stronger bullish pressure, while the -DI is at 17.89, reflecting weaker bearish momentum.

However, with the ADX below 20, neither the bullish nor bearish pressure is strong enough to establish a clear trend. This setup suggests a choppy market where price movements may continue without a decisive upward or downward trajectory unless the ADX rises significantly.

GRASS Price Prediction: A 44% Surge?

GRASS’s current price is moving above its short-term EMA lines, indicating growing bullish momentum in the short term. Exponential Moving Averages (EMAs) smooth out price data and highlight trends, with shorter-term EMAs responding quickly to price changes.

This movement suggests that buyers are gaining control, and the asset’s immediate trend is turning positive. If this momentum continues, GRASS price could test key resistance levels, providing a clearer signal of sustained upward movement.

If the uptrend strengthens, GRASS could face its next resistance at $2.91. Breaking through this level could trigger further bullish activity, potentially driving the price to $3.66, representing a significant 44% upside. Conversely, if the uptrend weakens, the price may reverse, testing support at $2.41.

Failure to hold this level could lead to a deeper correction, with GRASS price potentially dropping to $1.87, marking a 26% downside. These levels highlight the importance of trend strength in determining the next significant price movement.