Market Overview for Neiro Ethereum/Yen (NEIROJPY) – 24-Hour Technical Analysis

• Price surged from 0.04141 to 0.04356, forming a bullish reversal after early bearish breakdown.
• Strong volume spikes confirmed key breakouts and pullbacks around 0.0426–0.0428.
• RSI reached overbought levels, suggesting possible near-term exhaustion.
• Bollinger Bands expanded during the rally, indicating heightened volatility.
• 61.8% Fibonacci retracement at 0.0428 acted as a key psychological pivot point.

Neiro Ethereum/Yen (NEIROJPY) opened at 0.04141 at 12:00 ET–1 and closed at 0.04356 at 12:00 ET, reaching a high of 0.04356 and a low of 0.04141. Total volume for the 24-hour period was 46.4 million units, with a notional turnover of approximately ¥1,978,716. The asset exhibited strong price momentum and volatility, with key support and resistance levels forming throughout the session.

The structure of the 15-minute OHLC data reveals a clear bullish breakout from a bearish trend observed in the first few candles. A strong rally from 0.0420–0.04356 was supported by rising volume, especially around the 0.0426–0.0428 level, where price consolidated briefly. A bullish engulfing pattern was visible near 0.04282, signaling a potential trend reversal. Later, a bearish reversal was suggested by a doji near 0.04313, followed by a pullback, indicating indecision among traders. Key support levels appear at 0.0425 and 0.0418, with resistance at 0.0428 and 0.0431.

The 20-period and 50-period moving averages on the 15-minute chart both showed bullish crossovers during the rally, while the daily chart’s 50/100/200-period averages were aligned in a bullish bias. MACD (12,26,9) showed a strong positive divergence mid-day, confirming the upward momentum. RSI (14) hit overbought territory above 70 at the close, suggesting a potential pullback. Bollinger Bands expanded significantly as the rally accelerated, with price pushing beyond the upper band at the session high, indicating heightened volatility.

Volume surged during key breakout and pullback phases, particularly between 19:00 and 20:30 ET, with notable divergence seen during the late-night consolidation. A 61.8% Fibonacci retracement of the primary bullish wave fell precisely at 0.0428, reinforcing its importance. If this level holds, it may serve as a pivot for further consolidation before the next upward move. A breakdown below 0.0425 could trigger short-term bearish sentiment. Traders may watch for a retest of key resistance for confirmation of continuation.

Backtest Hypothesis: This strategy involves entering a long position upon a bullish engulfing pattern confirmed by a close above the 61.8% Fibonacci retracement level and a positive MACD crossover. A stop-loss is placed below the doji at 0.04313, with a target at the upper Bollinger Band (0.04356). Given the volume confirmation and RSI overbought conditions, the strategy may benefit from taking profit early or setting trailing stops if the trend continues. The 0.0426–0.0428 zone should be monitored for a potential countertrend short trade if the rally stalls.