Market Overview: Neiro Ethereum/Yen (NEIROJPY) 24-Hour Analysis (2025-10-06–2025-10-07)

• NEIROJPY broke down below 0.04400 after a bullish breakout attempt, confirming bearish momentum with a long upper shadow at 17:30 ET.
• Volatility expanded after 19:00 ET, with price dropping from 0.04457 to 0.04420 within two hours and volume spiking to 760k.
• RSI showed overbought conditions above 65 at 17:30 ET, followed by a sharp decline to oversold territory by 04:00 ET, indicating exhaustion.
• Price found temporary support at 0.04365, with a bullish pinbar forming at 06:45 ET, but failed to retest key resistance at 0.04441.
• Bollinger Bands tightened between 02:00–04:00 ET, signaling a potential breakout, which was confirmed bearishly at 04:45 ET.

The 24-hour session for Neiro Ethereum/Yen (NEIROJPY) started with an open at 0.04386 on 2025-10-06 12:00 ET, reached a high of 0.04491, and closed at 0.04465 by 12:00 ET the following day. Total volume for the period was 114,218,646.0, while total turnover amounted to approximately ¥4,725,655. The price trended lower throughout the early part of the session, forming several bearish patterns, including a hanging man at 03:00 ET and a bearish engulfing pattern at 17:30 ET, which signaled increased selling pressure.

Structurally, NEIROJPY tested key resistance levels at 0.04441 and 0.04457 but failed to hold above either. A bearish breakdown below the 0.04400 psychological level was confirmed by a long bearish candle at 04:45 ET. This breakdown was reinforced by the 15-minute 50-period MA (0.04423) and the daily 200-period MA (0.04394), both indicating bearish alignment. A clear breakdown of the 0.04400 level suggests that the 0.04365–0.04375 zone may become the next area of interest, with a 0.04333–0.0435 pivot potentially next in line if the downward move continues.

MACD showed bearish divergence after the 19:30 ET candle, with a bearish crossover in the histogram and negative momentum. RSI bottomed at 28 at 04:00 ET, showing oversold conditions, but failed to spark a meaningful rebound. Bollinger Bands tightened between 02:00–04:00 ET, suggesting a period of consolidation before a sharp bearish breakout. Price remains below the upper band and is now trading near the lower band, indicating heightened volatility and potential for further downside. Volume increased significantly around the 17:30 and 04:45 ET candles, reinforcing the bearish move.

Fibonacci retracement levels from the 0.04365–0.04491 swing show the 61.8% level at 0.04420 and the 38.2% level at 0.04449. Price briefly retested the 61.8% level before breaking down further, suggesting bearish control. The daily chart Fibonacci levels also align with key moving averages, reinforcing the bearish bias. Volume and turnover divergences were observed in the 04:45–06:30 ET range, with price falling despite diminishing volume, hinting at potential short-term support near 0.04400 and 0.04365.

Backtest Hypothesis
A backtesting strategy could be constructed using a combination of RSI oversold conditions (RSI < 30), Fibonacci retracement levels (38.2% and 61.8%), and volume confirmation. The 0.04365–0.04400 zone appears to be a key support cluster, with the 0.04365 level acting as a short-term floor. A long entry could be considered if price closes above this zone with a confirmed bullish candle and increased volume. Conversely, a short trade may be justified if price breaks below 0.04365, with a stop placed just above 0.04390 to capture further downside. The 20-period MA on the 15-minute chart could serve as a trailing stop to manage risk in volatile conditions.