Market Overview for Neo/Tether (NEOUSDT) – 2025-11-13

Summary
• Price surged from $4.95 to $5.13, closing at $5.051 after a strong bull rally in the early morning.
• RSI reached overbought levels briefly, indicating potential correction ahead.
• Volume spiked during key resistance breaks, suggesting strong buyer conviction.

Neo/Tether (NEOUSDT) opened at $4.951 on 2025-11-12 at 12:00 ET, surged to a high of $5.134, dipped to a low of $4.918, and closed at $5.051 as of 12:00 ET on 2025-11-13. Total volume traded over the 24-hour window was 245,920.73 USDT, with a notional turnover of approximately $1.23 million. The pair exhibited strong directional bias and volatility expansion.

Structure & Formations

Price action on NEOUSDT displayed a strong bullish reversal pattern from $4.95 to $5.05 as buyers stepped in after a sharp correction. A key support at $4.935 and resistance at $5.07 were tested multiple times. A bearish engulfing pattern emerged near $5.13, hinting at possible consolidation or reversal in the near term. A bullish harami at $5.003 also signaled indecision before a renewed upswing.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA in the early morning session, confirming a short-term bullish bias. On the daily chart, the 50-day MA was at $4.99, while the 200-day MA sat near $4.89, indicating that the 24-hour rally has brought the pair back into more constructive alignment with long-term trend indicators.

MACD & RSI

The MACD crossed into positive territory in the early hours, signaling strengthening momentum. RSI briefly reached 70, indicating overbought conditions, although it has since retracted to a more balanced 56. This suggests the rally may consolidate in the near term, but sustained buying above $5.05 could reignite bullish momentum.

Bollinger Bands

Volatility expanded as price moved from the lower band at $4.93 to the upper band at $5.13, reaching the 61.8% retracement level from the previous low. Price has since settled near the middle band, indicating potential for a consolidation phase ahead.

Volume & Turnover

Trading volume increased significantly during the $5.00 to $5.13 upswing, with the highest turnover at $5.05–$5.07. A divergence between price and volume was noted in the late afternoon session, as price remained flat while volume declined, suggesting possible exhaustion in the short-term rally.

Fibonacci Retracements

Key Fibonacci levels from the recent swing low at $4.935 to the high at $5.134 included 38.2% at $5.03 and 61.8% at $5.07. Price held above the 61.8% level during the last 4 hours, suggesting strong buying interest at this critical support/resistance zone.

Backtest Hypothesis

While no Bullish Engulfing signals were found for BLSH.N in the given timeframe, the recent NEOUSDT action shows similarities—sharp dips followed by confirmed reversals above key Fibonacci levels. A potential backtest could target a strategy that looks for Bullish Engulfing patterns near the 61.8% Fibonacci retracement, as seen on NEOUSDT’s recent upswing, with a 50-period SMA confirmation to filter noise and improve signal quality.