Market Overview for NEXOUSDT on 2025-09-18

• NEXOUSDT traded in a 24-hour range of 1.268–1.298, ending near 1.286 after a bullish rebound from 1.271.

• Strong volume surges occurred between 22:15 ET and 03:15 ET, coinciding with price recovery from a 1.271 intraday low.

• A bullish engulfing pattern formed around 19:30–19:45 ET, signaling potential short-term reversal after a consolidation phase.

• RSI reached oversold levels (~27) near 18:45 ET, while MACD crossed into positive territory at 19:30 ET, confirming short-term strength.

• Bollinger Band contraction occurred around 18:45–19:15 ET, followed by a breakout to the upside with above-average volume.

Nexo/Tether (NEXOUSDT) opened at 1.281 on 2025-09-17 at 12:00 ET, reaching a high of 1.298 and a low of 1.268, closing at 1.286 by 12:00 ET on 2025-09-18. Total volume was 196,853.38, with a notional turnover of 252,955.07.

The 24-hour price action shows a bearish consolidation into the early evening hours followed by a strong rebound into the overnight session. Key support levels appear at 1.273 and 1.268, while resistance is forming around 1.286 and 1.293. A bullish engulfing pattern at 19:30–19:45 ET confirmed the reversal from a 1.271 low. A doji near 19:45 ET may suggest hesitation before the rebound, adding short-term volatility. The price has spent more than half the period trading above the 20-period moving average, while the 50-period line remains flat to slightly bearish.

On the 15-minute chart, the 20-period MA crossed above the 50-period MA early in the session, forming a potential short-term golden cross. The 50-period MA is now aligning with the 1.285 level, which could act as both a support and trigger level for further momentum. The 200-period MA remains distant at ~1.275, indicating a longer-term bullish bias has yet to materialize.

The MACD line crossed above the signal line at 19:30 ET, confirming a short-term bullish momentum shift. The histogram turned positive and grew in size through the overnight session. RSI, after hitting oversold at ~27 near 18:45 ET, climbed back into overbought territory (~63) by 05:00 ET. Bollinger Bands contracted between 18:45–19:15 ET and expanded with the breakout to 1.286, suggesting a period of consolidation followed by increased volatility. The 61.8% Fibonacci retracement level from the 1.271 low to 1.298 high aligns with 1.286, where the price is now consolidating, indicating potential for a pullback or continuation.

A short-term bullish bias appears likely, with 1.286 and 1.293 as near-term resistance targets. A break above 1.293 could trigger a test of 1.298. However, a drop back below 1.281 could confirm a pullback into the 1.273–1.275 range. Investors should monitor for volume confirmation on any potential breakouts or breakdowns over the next 24 hours.

Backtest Hypothesis

A backtesting strategy could focus on entries at the 1.281–1.284 consolidation range with a stop-loss below 1.279, targeting the 1.286–1.293 range. This setup leverages the bullish engulfing pattern, RSI oversold signal, and MACD crossover. Entries should be confirmed by volume surges above average 15-minute levels and a breakout above the 1.284–1.286 cluster.