Market Overview: Neo/Tether (NEOUSDT) - 2025-09-24

• NEOUSDT rallied sharply in the last 24 hours, closing near its daily high with strong momentum.
• Key support levels held during early bearish swings, while bullish engulfing patterns emerged near 5.92–5.93.
• Volatility expanded significantly from 5.83 to 6.05, with Bollinger Bands widening in the afternoon.
• RSI surged into overbought territory after the 6.03 high, signaling potential pullback risk.
• Turnover spiked during key 15-minute moves, with the largest volume occurring near the 6.03 high.

15-Minute Chart Summary

At 12:00 ET on 2025-09-24, NEOUSDT opened at 5.997, surged to a high of 6.079, dropped to a low of 5.769, and closed at 6.016. Total volume was 219,833.64, with turnover amounting to $1,325,390.51. The price trend showed a strong bearish correction overnight from 5.997 to 5.836 before a sharp rally resumed and closed near the high.

Key support levels were identified around 5.92, 5.87, and 5.769, while resistance emerged at 6.01, 6.02, and 6.03–6.04. A bullish engulfing pattern occurred at 5.93–5.96 during the early morning, followed by a strong rally into the 6.03–6.05 range. A long upper shadow was seen at 6.05–6.07, suggesting short-term resistance.

Moving Averages and Momentum Indicators

The 20-period and 50-period moving averages on the 15-minute chart were closely aligned near the 5.96–5.97 level, suggesting consolidation. The 50-period EMA provided dynamic support earlier in the day, before the price broke out.

On the daily chart, the 50-, 100-, and 200-period MAs showed a bullish bias, with the price trading well above the 200-day line. This aligns with a broader uptrend and reinforces the potential for continued momentum.

The MACD crossed above zero and remained bullish in the final hours of the 24-hour period, confirming the recent upside move. The histogram expanded during the breakout, indicating strong bullish momentum.

The RSI surged to 74–78, entering overbought territory, signaling the potential for a near-term correction or consolidation. However, as long as RSI remains above 50, the underlying bias remains bullish.

Bollinger Bands and Volatility

Volatility expanded significantly during the afternoon and evening session, with Bollinger Bands widening from a contraction around 5.92–5.96. Price traded near the upper band in the 6.01–6.05 range, suggesting overbought conditions. A period of consolidation within the bands could occur in the next 24 hours, offering an opportunity for re-entry on dips.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracement to the 15-minute swing from the low at 5.769 to the high at 6.079, the key levels include:

• 23.6% retracement: ~5.98
• 38.2% retracement: ~5.94
• 61.8% retracement: ~5.89

Price pulled back to the 38.2% level around 5.94 in the mid-morning and rebounded strongly, suggesting a possible continuation of the uptrend. On the daily chart, the 61.8% level at ~5.96 acted as a key support, with price bouncing off that area during the night.

Volume and turnover surged during the morning and evening sessions, particularly around 5.92, 6.00, and 6.03. The volume at 6.03–6.04 was among the highest, confirming the strength of the breakout. However, a divergence between rising price and decreasing volume may emerge in the next 24 hours, indicating a potential exhaustion phase.

Backtest Hypothesis

A backtest strategy could be constructed using the identified 15-minute bullish patterns and RSI overbought levels as entry filters. For example, a long entry could be triggered when price closes above the 50-period EMA, with a bullish engulfing pattern forming, and RSI above 55 but below 70. A stop loss could be placed below the recent support at 5.92, and a target could be set at 6.04–6.07 (61.8% and upper Bollinger Band). This setup would aim to capture continuation of the uptrend while managing risk on pullbacks.