Market Overview for Neiro Ethereum/Yen (NEIROJPY)

• NEIROJPY opened at 0.04281 and closed at 0.04229, with a 24-hour high of 0.04535 and a low of 0.04122
• Price formed a bearish divergence with turnover after 0.04439, hinting at waning bullish conviction
• Volatility spiked during Asian and European hours, with a peak-to-trough of ~11%
• A potential support zone appears near 0.04229 and resistance at 0.04352
• RSI and MACD suggest moderate bearish momentum, with overbought conditions resolving

Price Open, High, Low, Close and Trading Volume

On 2025-10-04 at 12:00 ET, Neiro Ethereum/Yen (NEIROJPY) opened at 0.04281, reached a high of 0.04535, and closed at 0.04229, with a low of 0.04122. Total volume for the 24-hour window was 116,914,441. Total turnover amounted to approximately $5,047,764. The pair displayed a bearish bias with a clear breakdown from key resistance levels.

Structure & Formations

The price action revealed a strong bearish bias following a key high at 0.04535 on October 4 at 07:00 ET. A descending wedge pattern formed as price fell into a key support zone around 0.04229. A bearish engulfing pattern was visible during the 12:00–12:15 ET session, indicating a potential trend reversal. Additionally, a doji at 0.04310 on October 4 at 10:30 ET hinted at indecision before a renewed bearish move.

Moving Averages

On the 15-minute chart, the price remained below both the 20 and 50-period moving averages for much of the session, reinforcing the bearish bias. On the daily chart, the 50-period MA sits near 0.0438, with the 100-period at ~0.0445, indicating short-term weakness against the longer-term trend. The 200-period MA (~0.0455) remains a key resistance level.

MACD & RSI

The MACD crossed below the signal line early in the session, confirming bearish momentum. The RSI fell into oversold territory for a brief period below 30 but did not generate a strong rebound, suggesting a continuation of the downtrend. RSI remains in the mid-to-low 40s, indicating ongoing bearish pressure.

Bollinger Bands

Volatility expanded significantly during the Asian and European sessions, with NEIROJPY reaching the upper band at 0.04535 before a sharp pullback. Price closed near the lower Bollinger band, signaling potential for a test of key support levels ahead.

Volume & Turnover

Volume surged during the Asian session, particularly between 05:00 and 07:00 ET, with a peak at 0.04535. Turnover spiked during this period as well, confirming the strength of the move higher before the bearish reversal. However, volume dried up during the late European and U.S. sessions, suggesting a potential exhaustion of bearish pressure or consolidation ahead.

Fibonacci Retracements

A key retracement level at 61.8% of the recent swing high to low (~0.0439) appears to act as a psychological resistance. A breakdown below 38.2% (~0.0428) could signal further bearish momentum toward 0.0415, a critical support level observed on October 4.

Backtest Hypothesis

The provided backtest strategy emphasizes entries on bearish engulfing patterns with confirmation from RSI and volume. Applying this to NEIROJPY’s bearish engulfing pattern at 0.04299 (2015–2030 ET session) aligns with the current bearish structure. A long-term backtest would need to test if this pattern, combined with a RSI below 50 and a volume spike, reliably signals trend continuation.