Summary
• Price broke above 3.58, reaching 3.646 before consolidating near 3.60.
• Volume surged near 7,650.23 during a bullish reversal at 3.632.
• RSI peaked at overbought levels, hinting at potential near-term pullback.
• Bollinger Band contraction occurred around 3.623 before a sharp expansion.
• A bullish engulfing pattern emerged at 3.593, followed by confirmed buying pressure.
Neo/Tether (NEOUSDT) opened at 3.54 and closed at 3.594 as of 12:00 ET on 2025-12-25, reaching a high of 3.646 and a low of 3.526. Total volume for the 24-hour window was approximately 90,941.08 with turnover around $318,927.77.
Structure & Formations
Price found key support near 3.58–3.59 during a consolidation phase and tested resistance at 3.63–3.64 multiple times. A bullish engulfing pattern at 3.593 appeared to confirm a short-term reversal after a sharp decline from 3.646. A doji formed near 3.605, indicating indecision amid tightening ranges.
Moving Averages
On the 5-minute chart, price spent much of the day above both 20 and 50-period SMAs, suggesting a short-term bullish trend. On the daily timeframe, the 50-period SMA sits near 3.605, with the 200-period SMA significantly lower, supporting a broader uptrend.
MACD & RSI
The MACD crossed above the signal line twice during the day, with positive divergences emerging during the 3.59–3.605 rally. RSI topped at 70+ around 3.645 and later pulled back to neutral territory, suggesting overbought conditions could trigger a near-term correction.
Bollinger Bands
A period of volatility contraction occurred around 3.623–3.624 before a sharp expansion following a large bullish candle at 3.632. Price remained within the bands for most of the session, showing bounded momentum and potential for a breakout or continuation.
Volume & Turnover
Volume spiked to 7,650.23 during a 3.632–3.649 rally, confirming buying strength. Turnover also rose sharply at that time, aligning with price action. A divergence occurred near 3.594, where volume dropped despite price consolidation, hinting at weaker conviction.
Fibonacci Retracements
On the 5-minute chart, price found support at the 38.2% retracement level of the 3.526–3.646 move before bouncing. On the daily chart, the 61.8% retracement near 3.61–3.62 appears to be a key area for near-term price action, suggesting potential for either a rebound or a breakdown depending on volume and order flow.
Market action over the past 24 hours suggests a potential short-term top forming above 3.64, with buyers stepping in around 3.59–3.605. A pullback into the 3.58–3.59 range could retest bullish sentiment. Traders should monitor volume behavior around key retracement levels, as divergence could signal a reversal.
Risk remains skewed to the upside in the short term, but bearish follow-through is possible if the 3.58 level fails to hold. Investors should remain cautious for volatility spikes as the market digests recent bullish momentum.
Comments
No comments yet