#NERO Posting Challenge# #NERO#

NERO retests key support — bounce or breakdown ahead?

NERO opened near 0.0115 yesterday. Buyers pushed price to that high. Then a big red candle drove price down to 0.0089. This drop shook weak hands. Volume shot up on that fall. Now price sits at 0.0095 on the 1-hour chart.

ema5 sits at 0.0099 above price. ema20 sits at 0.0101. Price now below both averages. That shows short term trend is down. macd on 1h is below zero. The macd line sits under its signal line. That tells us sellers have control for now. rsi on 1h reads near 28. That is in the oversold zone. Oversold reads under 30. This hints at a bounce soon.

Fibonacci drawn from swing low 0.00874 to swing high 0.01150 gives levels at:

0.01012 (50%)

0.00978 (61.8%)

0.00947 (78.6%)

Price now bounces off the 78.6% level. That level can act as support. If price holds here a move back to 0.0101 is likely. That is at ema20 and the 50% fib.

Look for a bullish engulfing candle at current range. A green candle that fully covers the prior red bar on the 1h chart can show buyers stepping in. That is our first buy signal. Entry near 0.0096 or on close above 0.0097. Stop loss under 0.0094. Target one at 0.0101. Target two at 0.0105.

If price fails to make a bullish engulf and breaks under 0.0094 we get bearish momentum. Then look for a short trade. Entry on break under 0.0094. Stop above 0.0096. Target at 0.0089. That is last swing low.

Long term prediction remains bullish. NERO has high volume. Its project notes and rewards model can draw more interest. If price holds above 0.0095 and makes higher lows on 4h chart we can see a rally back to 0.0120. From there a test of 0.0135 is possible within the next week.

In summary:

Short term trend is bearish with price under ema5 and ema20.

Oversold rsi and a fib support zone invite a bounce play.

Watch for a bullish engulfing 1h candle as a buy trigger.

Stop under fib 78.6% level and target ema20 and fib 50%.

Failure of support means pullback to swing low.

Prepare both scenarios and manage risk. If bulls reclaim 0.0101 they can push to 0.0112. If bears break below 0.0094 they can drag price to 0.0089. Monitor macd and rsi for shifts.