Neo/Tether Market Overview

• NEOUSDT traded in a 24-hour range of $6.116–$6.52 with a close near the upper end at $6.362.
• Key resistance formed near $6.38–$6.42, with support identified at $6.32–$6.36.
• Volatility expanded sharply after 08:00 ET, with turnover surging on large bullish moves.
• Momentum accelerated from 05:00 to 08:00 ET, followed by a pullback in the afternoon.
• RSI signaled overbought conditions briefly, while volume diverged during retracements.

Market Overview

Neo/Tether (NEOUSDT) opened at $6.117 on 2025-10-04 at 12:00 ET and reached a high of $6.52 before closing at $6.362 as of 12:00 ET on 2025-10-05. The 24-hour period saw a total volume of 309,944.51 and a turnover of approximately $1,936,642.23. The price action showed a strong bullish impulse in the early morning hours, followed by consolidation and a pullback in the afternoon.

Structure & Formations

The price structure of NEOUSDT over the past 24 hours revealed a clear bullish impulse between 05:00 and 08:00 ET, where it broke above $6.40 and surged to a high of $6.52. This was followed by a consolidation phase and a retracement, forming a potential bearish pinocchio at $6.492. Key support levels emerged at $6.32 and $6.276, while resistance formed at $6.38 and $6.42.

Moving Averages

On the 15-minute chart, NEOUSDT closed above the 20-period and 50-period moving averages, indicating bullish momentum in the short term. On the daily chart, the price remains above the 50-day and 100-day moving averages, supporting a longer-term bullish bias.

MACD & RSI

The MACD showed a strong bullish crossover as the price surged past $6.40, confirming the morning’s breakout. The RSI reached overbought territory above 70 during this move, suggesting a potential pullback. By the afternoon, the RSI had dropped below 50, indicating a possible weakening in momentum and a potential entry point for short-term traders.

Bollinger Bands

Volatility spiked dramatically between 07:45 and 08:00 ET, with the price surging outside the upper Bollinger Band at $6.448. The bands then widened, indicating a high-volatility environment. The price has since moved back toward the middle band, suggesting a potential continuation of the bullish trend.

Volume & Turnover

Volume surged during the morning breakout, peaking with a 15-minute candle at $6.52 that recorded a turnover of $121,200. Afternoon volume decreased as the price retreated, though it remained elevated compared to the previous day. The divergence between price and volume in the afternoon suggests cautious accumulation or distribution, depending on the market context.

Fibonacci Retracements

The recent morning move from $6.276 to $6.52 aligns with a 61.8% Fibonacci retracement at $6.399, where the price briefly paused before retreating. This level could act as a key resistance. On a broader scale, the 61.8% retracement of the daily range also aligns with the $6.39–$6.40 zone, reinforcing its significance.

Backtest Hypothesis

Given the recent bullish impulse and overbought RSI, a potential backtest strategy could involve entering a short position on a retest of the $6.40–$6.42 resistance zone with a stop-loss above $6.43 and a target at the 50% Fibonacci level near $6.36. This approach could capitalize on the potential mean reversion after the sharp morning rally, especially if volume diverges during the retest. This aligns with the observed price action and confirms the validity of the key resistance levels.