Neiro Ethereum/Tether USDt Market Overview (2025-09-06)

• Price surged to 0.00034536 before consolidating near 0.00034050 by close.
• Strong bullish momentum midday, followed by bearish reversal later.
• Volatility and turnover spiked during key 19:00–21:00 ET rally.
• Bollinger Band expansion and RSI overbought conditions signaled potential pullback.

Market Summary and Opening

Neiro Ethereum/Tether USDt (NEIROUSDT) opened at 0.00033646 at 12:00 ET-1, surged to a 24-hour high of 0.00034536, and closed at 0.00034050 at 12:00 ET. Total volume for the 24-hour period reached 35,978,781,129.0, with notional turnover amounting to 68,886.00. Price action reflected both bullish and bearish momentum, with a strong midday rally and a late consolidation phase.

Structure & Formations

Bullish engulfing patterns emerged between 17:00 and 19:45 ET, particularly during the 18:45–19:00 ET window, where price surged from 0.00034014 to 0.00034356. A key resistance appears near 0.00034536, followed by support at 0.00034050. A doji formed around 05:15 ET, suggesting indecision. Later in the session, a bearish harami pattern (e.g., 11:45–12:00 ET) signaled a potential reversal.

Moving Averages and MACD/RSI

On the 15-minute chart, NEIROUSDT briefly crossed above the 20SMA at 18:00–20:00 ET but later fell below it, suggesting weakening bullish momentum. The 50SMA acted as a dynamic support during the afternoon. MACD crossed into positive territory around 17:00 ET, peaking at 01:00 ET before returning to neutral. RSI hit overbought levels (70+), peaking at 00:15 ET and triggering a correction. By 06:00 ET, RSI had fallen to neutral territory.

Bollinger Bands widened between 16:00–19:00 ET, confirming increased volatility. Price later retracted to the mid-band, indicating a pullback may be in progress.

Volume and Turnover Divergences

Volume surged during the 18:45–20:00 ET rally, with 751,239,033.0 traded at 19:00 ET. A volume divergence occurred between 23:45–00:15 ET, with falling prices and rising volume confirming bearish momentum. Turnover peaked at 1,417,178,341.0 at 21:30 ET, coinciding with a high of 0.00034782.

Fibonacci retracement levels showed price retesting the 61.8% level (0.00034296) before falling to the 38.2% level (0.00034111).

Backtest Hypothesis

The backtesting strategy involves entering long positions when price crosses above the 20SMA on the 15-minute chart, confirmed by a bullish MACD crossover and RSI above 50. Exit is triggered when price crosses below the 20SMA or RSI drops below 40. During the 24-hour window, this strategy would have generated a potential long entry at 18:45 ET and a short exit at 04:00 ET, capturing the midday rally and afternoon pullback.