Market Overview for Neiro Ethereum/Yen (NEIROJPY) on 2025-09-19

• NEIROJPY fell to a 24-hour low of ¥0.05176, with bearish momentum evident in oversold RSI and declining volume.
• A large bearish engulfing pattern formed near ¥0.05592-¥0.05561, indicating short-term reversal concerns.
• Volatility expanded in the afternoon ET as Bollinger Bands widened, with price testing the lower band multiple times.
• The 20-period moving average crossed below the 50-period line on the 15-minute chart, signaling bearish short-term bias.
• Fibonacci 61.8% support at ¥0.05335 held temporarily but failed to trigger a strong rebound.

Opening Narrative

Neiro Ethereum/Yen (NEIROJPY) opened the 24-hour period at ¥0.05561 on 2025-09-18 at 16:00 ET and traded as high as ¥0.05623 before closing at ¥0.05215 on 2025-09-19 at 16:00 ET. Total volume amounted to 309,448,187 units, with a notional turnover of ¥16,420,000. The pair exhibited bearish price action and declining momentum as it closed below key support levels.

Structure & Formations

Over the past 24 hours, NEIROJPY displayed bearish structure, with a clear breakdown from ¥0.05592–¥0.05601, where a bearish engulfing pattern emerged. A key support level appears to be forming near ¥0.0525–¥0.0530, where the price has shown some consolidation after a sharp drop. Doji patterns and long lower shadows suggest indecision and possible exhaustion in the downward move.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart crossed below ¥0.0559, forming a bearish "death cross" signal. The daily chart shows the 50-period MA at ¥0.0547, below the 100-period MA at ¥0.0553 and the 200-period MA at ¥0.0557. This reinforces a medium-term bearish bias, with price well below these key trend indicators.

MACD & RSI

The RSI dropped below 30, indicating oversold conditions, particularly in the final hours of the 24-hour window. However, divergence emerged between the price and RSI as NEIROJPY continued to fall despite RSI failing to reach oversold levels. The MACD line turned negative and remained below the signal line, with bearish momentum dominating the late hours.

Bollinger Bands

Bollinger Bands expanded significantly in the mid- to late hours of the period as volatility increased. NEIROJPY spent much of the last 8 hours trading near the lower band, confirming bearish pressure. A potential bounce could be expected if the price retraces back toward the midline of the bands, currently around ¥0.0536–¥0.0539.

Volume & Turnover

Volume surged in the early hours of the morning ET with a spike at ¥0.05505–¥0.05398, coinciding with a sharp drop in price. However, volume has since declined, suggesting weakening bearish conviction. Notional turnover remained steady but showed a divergence from price in the last 6 hours as turnover dipped despite continued downward movement.

Fibonacci Retracements

On the 15-minute chart, key Fibonacci levels include 38.2% at ¥0.0545, 50% at ¥0.0539, and 61.8% at ¥0.0533. The price failed to hold at 61.8%, which acted as temporary support before breaking below it. On the daily chart, the 61.8% retracement of the last major upwave lies near ¥0.0535, where the price appears to have found some short-term support.

Backtest Hypothesis

A potential backtest strategy for NEIROJPY could involve a mean-reversion setup triggered when the price closes below the lower Bollinger Band and RSI dips below 30. A long entry could be considered on a reversal candle at these levels, with a stop-loss placed just below the previous swing low. Given the recent volatility expansion and oversold RSI, this approach could be tested over a 15-minute timeframe for potential short-term rebounds.