Market Overview: Nexo (NEXOUSDT) Daily Technical Summary

• Nexo (NEXOUSDT) traded in a tight range for much of the 24-hour window, failing to break above 1.31 or below 1.26.
• A sharp selloff late on 2025-08-24 brought price to a 24-hour low of 1.26, but buyers retook control by midday on 2025-08-25.
• RSI shows oversold conditions in early hours, followed by gradual momentum recovery after 06:00 ET.
• Volatility spiked with a 15-minute candle gapping down to 1.269 (1.27 from open) amid heavy volume.
• Bollinger Bands show recent contraction, hinting at potential for a breakout or reversal.

Price Action and Range

Nexo (NEXOUSDT) opened at 1.301 on 2025-08-24 at 12:00 ET and reached a 24-hour high of 1.313 by 18:00 ET before dropping to a low of 1.26 on 2025-08-25 at 01:00 ET. It closed at 1.282 at 12:00 ET on 2025-08-25. The total 24-hour volume was approximately 1,128,939.7 USDT, with a turnover of roughly 1,424,835 USD. Price action was choppy early, but a bullish recovery from the 1.26 level suggests buyers regained control.

Trend and Momentum

On the 15-minute chart, the 20-period moving average (20SMA) and 50SMA show a narrowing gap from a bearish to a neutral configuration as price retested and moved above key support levels. The MACD histogram turned positive after the 06:00 ET reversal, aligning with bullish divergence in the RSI. RSI hit oversold territory at 26.2 before rising back to 52.7 by the close, suggesting a potential near-term bottoming process. Price may find continued support at the 1.273 level, which acted as a floor during multiple 15-minute candle rejections.

Volatility and Structure

Bollinger Bands showed significant expansion during the selloff in the early hours of 2025-08-25, with price hitting the lower band at 1.26 before rebounding. The subsequent retest of the 1.273–1.276 range formed a potential bullish pattern. A 15-minute bullish engulfing pattern formed at 04:30 ET, which preceded a 1.28–1.285 rally. Fibonacci levels suggest a 61.8% retracement of the 1.304–1.26 drop would target 1.282—exactly where the pair closed on 2025-08-25.

Volume and Turnover

Volume spiked during the selloff, with the 19:45 ET candle recording the highest 15-minute volume at 77,613.14 USDT. Notional turnover followed suit, with the most activity occurring between 19:45 ET and 02:00 ET. A divergence appears between volume and price during the 05:00–06:00 ET period, as volume declined while price held above the 1.273 level. This could indicate tightening control by buyers.

Forward-Looking View

The market appears to be consolidating after a sharp selloff, with potential support at 1.273–1.276 and resistance near 1.286–1.290. A break above 1.285 could signal the start of a new bullish phase, though a retest of 1.26–1.27 is still possible if bears re-engage. Investors should monitor 20SMA and RSI for confirmation of momentum shifts.