Market Overview for Neiro Ethereum/Yen (NEIROJPY): 2025-09-24

• Price closed higher with a 1.2% gain after a bullish reversal pattern formed near key support.
• Momentum picked up in afternoon ET, with RSI trending toward overbought territory.
• Volatility expanded during the session as price traded within +3.8% of the Bollinger Band range.
• Turnover spiked during the 5–8 AM ET window, confirming the early morning consolidation.
• A 50-period MA on the 15-min chart crossed above price, signaling short-term bullish bias.

Neiro Ethereum/Yen (NEIROJPY) opened at 0.04218 and closed at 0.04343 as of 12:00 ET, with a high of 0.04412 and a low of 0.04136 during the 24-hour window. Total volume was 79,257,228.0, and notional turnover stood at approximately 3.36 billion yen.

The price action reflected a strong recovery from an intraday bearish breakdown near 0.04136, followed by a decisive bounce supported by a 50-period moving average crossing above price on the 15-minute chart. A bullish engulfing pattern formed around 0.0420–0.0423 during the late ET hours, reinforcing the reversal thesis. The session closed with the price above both the 20 and 50-period moving averages, suggesting short-term bullish momentum.

Volatility expanded significantly as the Bollinger Bands widened after 2 AM ET, with price trading near the upper band during the afternoon. RSI climbed into overbought territory (above 70) by early afternoon, indicating potential exhaustion in the short-term rally. However, volume and turnover confirmed the strength of the move, with the 12-hour window from 5–8 AM ET seeing a notable spike in trading activity.

A key Fibonacci level at 0.0418–0.0420 acted as a strong support area, with the 61.8% retracement at 0.0432 providing near-term resistance. The MACD crossed into positive territory around 3 AM ET, aligning with the volume surge and reinforcing the bullish narrative.

The 15-minute chart shows a series of bullish engulfing and morning star patterns forming around 0.0420–0.0423, with RSI and MACD confirming the reversal. Price remains above the 50-period MA, suggesting the bullish trend could extend toward the 61.8% retracement level at 0.0432 in the next 24 hours. Traders should watch for a pullback to 0.0425 as a potential entry point, with a stop below 0.0418 to manage risk.

Backtest Hypothesis
A potential backtesting strategy could involve long entries on a bullish engulfing pattern with confirmation from RSI and MACD. Specifically, a trade would be triggered on the close of a bullish engulfing candle when RSI crosses above 50 and MACD turns positive, with a stop-loss placed below the low of the engulfing pattern. A profit target could be set at the 61.8% Fibonacci level or the upper Bollinger Band. This approach would aim to capture short-term momentum while minimizing exposure to false breakouts.