NEIRO Cryptocurrency Drops 35% After May Rally

NEIRO, a cryptocurrency, has experienced a tumultuous May, marked by significant price fluctuations. As of the latest update, NEIRO is trading around $0.000433, struggling to maintain the key 0.5 Fibonacci retracement level at $0.000452 following a sharp decline from its May highs above $0.00068. The inability to reclaim this mid-range level suggests broader market exhaustion, unless bulls can mount a meaningful rebound in the coming week.

Analyzing the daily price structure, NEIRO's price action is currently consolidating within a broad symmetrical triangle pattern, formed after an explosive rally in early May. The coin surged from the $0.00020 region to nearly $0.00070 in less than 10 trading sessions, but has since retraced back toward the 0.618 support region near $0.00039. A significant red candle on May 31 breached the lower Bollinger Band on the 4-hour timeframe, with the price closing below the 20/50/100 EMAs. This compression break signals growing bearish momentum. Unless NEIRO reclaims the 0.5 Fib zone near $0.000452, the risk of a retest of $0.000392 and potentially even $0.000305 (0.786 Fib) remains.

Momentum indicators reflect waning strength. The RSI on the 4-hour chart has steadily declined toward the 35 zone, showing clear bearish divergence compared to the previous higher lows in price. Meanwhile, the MACD has flipped into negative territory, with the signal line crossing above the MACD line—a common precursor to near-term downside. Adding to the concern, NEIRO's price volatility has expanded in the last 72 hours, as evidenced by the widening Bollinger Bands and sudden spikes in the Chande Momentum Oscillator (ChandeMO), which is currently at -54, reflecting steep short-term pressure. The Ichimoku Cloud on the 30-minute chart also paints a bearish picture, with the price moving below the cloud and the leading span turning negative. The Stoch RSI is deeply oversold (around 4), which may trigger a minor rebound, but the broader trend direction remains bearish unless a base forms.

The broader weakness can be attributed to profit-taking from the vertical rally in early May. Since reaching a peak of $0.00068, NEIRO has experienced a 35% correction, with no sustainable reclaim of broken support levels. Additionally, thinning volumes indicate a lack of conviction from buyers, while lower highs on the 4-hour and daily charts reinforce a downward structure. Until the price invalidates this lower high setup with a close above $0.000476 and reclaims the descending trendline seen on both intraday and daily charts, NEIRO price action is expected to remain under pressure through mid-June.

The next few sessions will be crucial. If bulls can reclaim $0.000452 and push past $0.000476, the upside target would extend toward the $0.000513–$0.000545 zone, with resistance layered between the 0.382 and 0.236 Fib levels. However, failure to do so may open the door for deeper downside toward $0.000392, and if that breaks, toward $0.000305 and even $0.00025 support zone. Structurally, June is likely to remain volatile, with NEIRO trapped in a broader consolidation phase. Traders should watch for breakout confirmation from the symmetrical triangle pattern to define the dominant monthly trend.