NEOUSDT Market Overview: 24-Hour Analysis and Strategic Outlook

• Price dropped to 6.611 after a sharp decline in the early session
• High volatility and large 15-minute range of up to 6.741
• Volume surged above 70,000 with diverging price and turnover
• RSI approached oversold territory midday but failed to confirm a reversal
• Bollinger Band contraction early morning signaled potential breakout

Neo/Tether USDt (NEOUSDT) opened at 6.696 on 2025-09-10 at 12:00 ET and closed at 6.611 by 12:00 ET on 2025-09-11, with a high of 6.741 and a low of 6.562. Total volume reached 221,740.74, with a notional turnover of approximately $1,457,931. The pair saw a sharp correction in the early morning hours.

Structure & Formations

NEOUSDT experienced a sharp selloff from 6.702 to 6.641 in the 15-minute timeframe, marked by a bearish engulfing pattern at the 6.702 level. Key support was observed at 6.65 and 6.615, with 6.611 forming a potential short-term floor. A doji appeared at 6.658 in the morning session, hinting at indecision. Resistance levels include 6.68, 6.70, and 6.715, with a recent failed attempt to break above 6.715.

Moving Averages

On the 15-minute chart, the price remained below both the 20-period (6.69) and 50-period (6.68) moving averages. The daily chart shows the 50-period MA at 6.70, the 100-period at 6.72, and the 200-period at 6.73, indicating a bearish bias as price trades below all key averages. The 50/200 MA crossover remains negative, reinforcing the downtrend.

MACD & RSI

The MACD turned bearish in the early morning, with the line crossing below the signal line and negative divergence observed in the midday session. RSI dropped to 28 by 12:00 ET, hitting oversold territory but failing to produce a bullish reversal. This suggests the selloff may persist unless a strong rebound develops above 6.685. Momentum remains weak, with the histogram shrinking toward the zero line.

Bollinger Bands

Bollinger Bands showed a period of contraction between 03:00 and 04:30 ET, followed by a breakout to the downside. The price closed below the lower band at 6.611, indicating high volatility and bearish pressure. The recent expansion of the bands suggests a continuation of the downward trend could be expected unless a reversal pattern forms above the 6.65–6.66 level.

Volume & Turnover

Volume surged to over 70,000 in the 14:00–15:00 ET timeframe, coinciding with a sharp drop from 6.68 to 6.64. However, turnover did not match the volume spike, indicating potential divergence. Notional turnover peaked at $40,860 during the selloff but failed to confirm a strong bearish sentiment, suggesting a possible retest of key support levels ahead.

Fibonacci Retracements

Key Fibonacci levels from the 6.702–6.641 swing include 6.677 (38.2%) and 6.662 (61.8%). Price bounced from the 6.662 level in the early morning but failed to hold, confirming bearish pressure. On the daily chart, the 38.2% retracement of the recent move is at 6.658, aligning with a potential short-term support zone.

Backtest Hypothesis

A potential backtest strategy involves entering a short position on a close below the 6.662 Fibonacci level, with a stop above the 6.685 20-period MA. A take-profit target can be placed at the 6.615 level, with a trailing stop activated at 6.63. The strategy would aim to capture short-term bearish momentum during extended volatility, with a risk caveat to monitor for unexpected bullish divergences in the RSI and MACD indicators.