Neiro Ethereum/Tether Market Overview for 2025-11-11

Summary
• Price fluctuated between 0.00017087 and 0.0001827, closing at 0.00016892.
• Volatility and volume spiked around 23:00–00:00 ET.
• A bearish reversal pattern formed near 0.00018086, followed by a downward correction.
• RSI reached overbought levels, while MACD showed bearish divergence.
• Turnover hit a 24-hour high of $1.9598 billion at 08:15 ET.

Market Overview

Neiro Ethereum/Tether (NEIROUSDT) opened at 0.00017177 on 2025-11-10 12:00 ET, reached a high of 0.0001827, dropped to a low of 0.00016568, and closed at 0.00016892 as of 2025-11-11 12:00 ET. Total volume traded over the 24-hour window was 29,954,781,795 USDT, with a notional turnover of approximately $5,078,678,705.

Price action was characterized by a sharp rise in the late evening before a significant pullback into the morning hours. A strong bearish engulfing pattern formed around the 0.00018086 level, signaling potential short-term bearish momentum. Volume was particularly high between 23:00 and 00:15 ET, coinciding with the key price reversal.

Structure & Formations

The daily chart shows a key resistance zone between 0.000178 and 0.0001827, where the price previously reversed. A bearish engulfing candle at 0.00018086, formed by a long bearish body covering the previous bullish candle, indicates a potential top. On the 15-minute chart, price tested support levels at 0.000175 and 0.0001675, where buyers attempted to re-enter.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart show a bearish crossover in the early morning hours. On the daily chart, the 50-period MA appears to be catching up to the 200-period MA, suggesting a potential flattening in the short-term trend.

MACD & RSI

The MACD line turned negative in the early hours of 2025-11-11, indicating bearish momentum. RSI peaked at over 75, entering overbought territory, and then dropped sharply to 50 by 05:00 ET, suggesting exhaustion in the short-term bullish move and a likely continuation of the downward correction.

Bollinger Bands

Price briefly broke above the upper band around 23:00 ET before collapsing into the lower band, indicating a strong volatility expansion. Price has since been consolidating within the bands, but the narrowing of the bands in the early morning suggests a potential breakout or breakdown scenario.

Volume & Turnover

The highest notional turnover occurred at 08:15 ET, with a volume of $1.9598 billion, coinciding with a sharp pullback from 0.00017173 to 0.00016757. Volume spiked during the 23:00–00:15 ET window, confirming the bearish reversal. Price and turnover moved in tandem during the critical reversal, suggesting strong conviction in the bearish move.

Fibonacci Retracements

Fibonacci levels drawn on the recent 0.00016568–0.0001827 swing show the current price sitting around 38.2% retrace at 0.0001685. The 61.8% retrace level lies at approximately 0.0001757, which may act as a potential short-term resistance should the price retest.

Backtest Hypothesis

A backtest attempting to validate the predictive power of the bearish engulfing pattern in NEIROUSDT encountered an issue due to the unavailability of historical price data for the symbol. To proceed, the correct ticker symbol must be confirmed, or an external data file provided. As an alternative, the same pattern could be tested on a well-supported symbol such as BTCUSDT or ETHUSDT. Once the data source is validated, the backtest engine can compute performance statistics and generate visualizations to assess the effectiveness of the bearish engulfing signal within the given time frame.