Summary
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declined 0.8% in 24 hours, forming bearish continuation patterns.
• Volatility expanded with increased turnover and volume in late trading.
• RSI and MACD suggest weakening momentum and oversold conditions.
• Price approached key support near 0.0001033–0.0001036, with Bollinger contraction.
• Fibonacci retracements highlight 0.0001039 (38.2%) and 0.0001046 (61.8%) for near-term action.
Market Overview
Neiro Ethereum/Tether (NEIROUSDT) opened at 0.00010714 at 12:00 ET – 1, reached a high of 0.00010772, a low of 0.00010097, and closed at 0.00010412 at 12:00 ET. Total volume for the 24-hour window was 13.39 billion, with a notional turnover of $10.68 million.
Structure and Momentum
Price action over the past 24 hours revealed a series of bearish continuation patterns, including a long-legged doji and a bearish engulfing pattern near the 0.0001050 level.
The 20-period and 50-period moving averages on the 5-minute chart indicate a bearish bias, while the 50-day and 200-day moving averages on the daily chart remain well above the current price, suggesting medium-term bearish sentiment.
Volatility and Indicators
Volatility has increased, as evidenced by the expansion of Bollinger Bands and the price hovering near the lower band, suggesting oversold territory. RSI dipped below 30, indicating potential for a near-term rebound, but MACD remains bearish with a negative crossover and declining histogram, signaling weakening upward momentum.
Volume and Turnover
Volume and turnover surged during the late ET hours, particularly in the 13:15–15:00 ET window, when price dropped from 0.0001046 to 0.00010204. This suggests increased bearish conviction. However, a divergence between falling price and rising volume indicates short-term uncertainty.
Fibonacci and Key Levels
Fibonacci retracements drawn from the 0.00010772 high to the 0.00010097 low show critical levels at 0.0001039 (38.2%) and 0.0001046 (61.8%). Price appears to have found initial support near 0.0001033–0.0001036, with a potential bounce or reversal expected if the 0.0001046 level is tested.
Over the next 24 hours, NEIROUSDT may test near-term support at 0.0001036, with a potential for a short-term rebound if buyers step in. However, caution is advised as momentum remains bearish and key support levels could break if the market extends its downward bias.
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