Market Overview for Neiro Ethereum/Tether (NEIROUSDT)

Summary
• Price declined sharply during early ET hours, forming a bearish engulfing pattern near 0.00011300.
• A 61.8% Fibonacci retracement level at 0.00010740 was tested and held in late ET hours.
• Turnover surged above $160 million during the midday rebound attempt.
• RSI bottomed near 25, suggesting oversold conditions, but lacked follow-through.
• Volatility expanded as Bollinger Bands widened, confirming increased uncertainty.

Neiro Ethereum/Tether (NEIROUSDT) opened at 0.00011316 (12:00 ET−1) and traded between 0.00011407 and 0.00010225, closing at 0.00011186 at 12:00 ET. Total volume reached 24,832,708,438.0, with notional turnover exceeding $276 million.

Structure & Formations

Price action revealed a sharp bearish reversal from 0.00011300, marked by a large engulfing candle, and a subsequent test of the 0.00010740 Fibonacci support level. Later in the session, a small bullish pinbar formed near 0.00010952, suggesting short-term buyers entered.

Moving Averages and Momentum

On the 5-minute chart, price moved below both the 20- and 50-period MAs, reinforcing a bearish bias. MACD turned negative with bearish divergence, while RSI bottomed near 25 but failed to trigger a sustained rebound.

Volatility and Bollinger Bands

Bollinger Bands showed a modest expansion during the morning selloff, with price moving closer to the lower band in late ET hours. This suggested increased uncertainty and potential for a mean reversion.

Volume and Turnover

Volume remained elevated during the early sell-off, particularly around the 0.00010870 and 0.00010330 levels. Turnover spiked sharply during the midday rebound attempt but failed to push price above 0.00011050, indicating a lack of conviction.

Forward Outlook

Price may test 0.00010740–0.00010800 as the next support corridor, with a breakout above 0.00011050 signaling potential for a short-term reversal. Traders should monitor volume and RSI for confirmation or divergence. Volatility remains elevated, and positions should be managed with tight stop-loss levels.