Market Overview for Neiro Ethereum/Yen (NEIROJPY)

• Price dropped from 0.05457 to 0.05342 in 24 hours, ending near recent intraday low.
• RSI showed oversold conditions, indicating potential short-term bounce.
• Volume spiked at 0.05377 but failed to confirm bullish momentum.
• Bollinger Bands contracted near 0.05445, suggesting a possible breakout.
• Key support at 0.05342 and resistance at 0.05455 identified for reversal setups.

Neiro Ethereum/Yen (NEIROJPY) opened at 0.05449 on 2025-09-10 at 12:00 ET and closed at 0.05342 on 2025-09-11 at 12:00 ET, trading as high as 0.05478 and as low as 0.05287. Total volume reached 29.2 million units, with a turnover of approximately 1.547 billion yen. The pair has shown a downward bias, with key support and resistance forming during the session.

Structure & Formations

The 24-hour candlestick chart displayed a bearish bias with key support forming around 0.05342, where the price found a floor after a sharp decline. A bearish engulfing pattern was observed around 0.0545 to 0.0539, suggesting continuation of the downtrend. A notable doji appeared near 0.05435, indicating indecision and potential reversal. Resistance levels emerged at 0.05455 and 0.05478, with the latter acting as a major ceiling during the 15-minute chart.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bearish crossover early in the session, with price falling below both. On the daily chart, the 50-period MA crossed below the 200-period MA, indicating a medium-term bearish trend. Price remained below the 100-period MA for most of the 24-hour period, reinforcing the bearish sentiment.

MACD & RSI

The MACD line showed bearish momentum for much of the session, with a narrowing histogram suggesting decreasing bearish pressure in the final hours. RSI reached 26.4, indicating oversold conditions, especially after the sharp drop to 0.05287. The RSI line crossed back above 30 in the final candle, suggesting potential short-term buying interest. However, the MACD remained bearish, pointing to mixed signals in momentum.

Bollinger Bands

Volatility showed contraction around 0.05445, as the Bollinger Bands narrowed, followed by a breakout to the downside. Price closed below the lower band at 0.05342, indicating continuation of the bearish trend. The upper band acted as a resistance level, with the price failing to close above 0.05455 in the 24-hour window. This suggests that traders should monitor the upper band for potential shorting opportunities if a rebound occurs.

Volume & Turnover

Volume surged to 29.2 million units, with the most significant spike occurring in the candle that closed at 0.05377. This was followed by a sharp decline in volume, suggesting a lack of conviction in the bullish move. Notional turnover reached 1.547 billion yen, with divergence between price and volume observed after the 0.05471 high. This divergence could indicate exhaustion in the bearish move, potentially leading to a short-term bounce.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 0.05478 to 0.05287 identified key levels at 0.05455 (38.2%) and 0.05432 (61.8%). Price tested these levels multiple times, but failed to hold above them, indicating bearish pressure. On the daily chart, the 61.8% level at 0.05403 acted as a strong support, which was broken during the session, reinforcing the bearish scenario.

Backtest Hypothesis

A potential backtesting strategy could focus on using the RSI reaching oversold conditions (below 30) as an entry signal for short-term bullish trades, while using the 61.8% Fibonacci level as a dynamic stop-loss. This strategy would aim to capitalize on the price bouncing from key support areas and retesting resistance levels with increased volume confirmation. Traders should also consider divergence between price and volume as a signal of trend exhaustion, particularly in high-volatility environments.