Market Overview for Neiro Ethereum/Yen (NEIROJPY)

Summary
• NEIROJPY fell 0.5% in 24 hours, closing at 0.02664 after a failed breakout above 0.02786.
• Momentum weakened with RSI below 50 and MACD bearish, suggesting potential for further near-term pressure.
• Volatility remained low, with price consolidating within Bollinger Bands and minimal volume divergence.

The NEIROJPY pair opened at 0.02664 on 2025-11-10 at 12:00 ET, reached a high of 0.02786 and a low of 0.02567 before closing at 0.02664 on 2025-11-11 at 12:00 ET. Over the 24-hour period, the total trading volume was approximately 11,429,110 units, and the notional turnover was around 299.9 million yen, based on weighted average prices.

NEIROJPY displayed a bearish trend over the last 24 hours, with a notable bearish reversal forming on the 15-minute chart following a bullish attempt to break above 0.02786. This was confirmed by a strong rejection at the 0.02786 level, with a high volume candle on the 23:15 session and a sharp decline over the following hours. Key support levels appear to be forming around 0.02664, 0.02636, and 0.02610, with the 0.02664 level acting as a short-term floor. A doji and a bullish engulfing pattern in the 00:30–01:00 ET window hinted at potential short-term indecision or consolidation.

The 20-period moving average on the 15-minute chart dipped below the 50-period line, forming a bearish crossover. Similarly, the 50-period daily moving average was below the 100 and 200-period lines, reinforcing the bearish bias. Momentum indicators showed bearish divergence: RSI dipped below 50 and moved into oversold territory during the early morning hours, while MACD crossed below the signal line, indicating a weakening of the bullish trend.

Bollinger Bands showed a narrow contraction in the late evening hours, which often precedes a breakout or breakdown. Price eventually broke down through the lower band at 0.02628, suggesting short-term bearish pressure. Fibonacci retracement levels drawn from the swing high at 0.02786 to the low at 0.02567 indicated that 0.02664 (38.2%) and 0.02610 (61.8%) are likely to act as key support levels in the near term.

Volume was mixed but showed key surges during key breakdown and rejection levels, particularly at 0.02786 and 0.02664. Notional turnover confirmed these moves, suggesting institutional or large participant activity. A divergence between price and volume was observed in the afternoon, with price falling while volume remained muted, indicating a potential consolidation phase.

Backtest Hypothesis
A strategy based on bullish engulfing patterns has shown a mixed performance since 2022, with some strong months like April 2023 and significant drawdowns in February and October 2023. These outcomes suggest the pattern is sensitive to broader market conditions and volatility. While the 15-minute NEIROJPY chart showed one engulfing pattern during the early morning hours, its confirmation was weak, and the subsequent action was bearish, implying caution for similar signals unless accompanied by high volume and strong momentum.