Market Overview for Neiro Ethereum/Yen (NEIROJPY) on 2025-09-22

• NEIROJPY declined sharply overnight, falling from 0.05176 to 0.043 by 16:00 ET with heavy volume in the early morning.
• RSI hit oversold levels and price tested the 0.043–0.044 support cluster.
• Bollinger Bands expanded sharply, reflecting increased volatility in the 02:00–06:00 ET range.
• Large-volume sell-offs occurred at 06:15 ET and 09:45 ET, confirming bearish momentum.
• Fibonacci retracement levels at 0.0447 and 0.0455 may offer potential near-term resistance.

The Neiro Ethereum/Yen (NEIROJPY) pair opened at 0.05157 on 2025-09-21 at 12:00 ET and closed at 0.04300 on 2025-09-22 at 12:00 ET. The 24-hour range was 0.05176 (high) to 0.04300 (low), with a total volume of 85,626,152.0 and a notional turnover of 4,255,366.70 JPY. Price declined in a sharp bearish trend, driven by large-volume sell-offs in the early hours of the session.

Structure & Formations suggest a bearish continuation. A key support cluster formed between 0.043 and 0.044, where price found temporary consolidation. A large bearish engulfing pattern was visible at 06:15 ET and another at 09:45 ET, confirming strong seller dominance. A doji near 0.04500 could signal a potential short-term bottoming formation if buyers show strength.

Moving Averages show a clear downward bias. On the 15-minute chart, the 20SMA and 50SMA are in steep decline, confirming the bearish momentum. Daily MAs like the 50D, 100D, and 200D are also in a bearish alignment, with price well below all of them. This suggests the downtrend is likely to continue unless a strong reversal occurs.

MACD and RSI metrics reinforce the bearish narrative. RSI reached the 20 level, signaling an oversold condition, but price remains under pressure, suggesting exhaustion rather than a bounce. The MACD histogram has been predominantly negative, with bearish divergences visible in the earlier part of the trend. Bollinger Bands showed a sharp expansion after 02:00 ET, indicating heightened volatility. Price has remained below the lower band during most of the session, especially in the 04:00–08:00 ET window.

Volume and turnover spiked significantly during key sell-offs, particularly at 06:15 ET and 09:45 ET, where NEIROJPY traded over 33M and 7.7M volume, respectively. These spikes in volume confirm the bearish move rather than a divergence. Notional turnover also rose in tandem with volume, indicating strong conviction from sellers.

Fibonacci retracement levels derived from the swing high of 0.05176 and the swing low of 0.043 suggest key levels for potential support and resistance. The 61.8% retracement level is at 0.04713, which may offer a near-term resistance. The 38.2% level at 0.04505 appears to have provided temporary support during the bounce earlier in the session. Traders may watch for a rejection at 0.04713 or a test of the 0.043–0.044 support zone for further confirmation.

Backtest Hypothesis
Given the observed bearish engulfing patterns and the confirmation through high-volume sell-offs, a backtesting strategy could be constructed that looks for such patterns occurring on 15-minute candles with volume above a certain threshold (e.g., 1M+) and RSI below 30. The strategy would enter a short position at the close of the second candle, with a stop loss above the high of the pattern and a target at the 38.2% Fibonacci level. This approach would aim to capitalize on the continuation of the bearish momentum seen in NEIROJPY over the past 24 hours.