Market Overview for Nexo/Tether (NEXOUSDT) as of 2025-09-18

• Price tested key support at 1.284 before rebounding with increasing volume.
• RSI indicates overbought conditions near 1.30, while MACD shows rising bullish momentum.
• Volatility expanded as price surged above 1.30, but Bollinger Bands suggest a potential reversal.
• Turnover spiked during late ET hours, confirming strength in the 1.295–1.300 range.
• A potential Fibonacci retest of 61.8% at ~1.293 may trigger near-term consolidation.

At 12:00 ET−1 on 2025-09-17, Nexo/Tether (NEXOUSDT) opened at 1.281 and traded in a 1.277–1.283 range through the early evening. By 12:00 ET on 2025-09-18, price closed at 1.289, having reached a 24-hour high of 1.300 and a low of 1.271. Total volume for the period was 290,424.76, while notional turnover (volume * price) totaled approximately 364,391.00 (based on average pricing). This reflects a strong 24-hour move amid increased participation.

Structure & Formations

The past 24 hours revealed a strong bullish bias with a key breakout above the 1.290–1.293 resistance cluster. The 15-minute candles formed multiple bullish engulfing patterns and a piercing line near 1.295. Price found initial support at 1.284 and 1.280 before launching higher, with the most significant rally occurring after 03:00 ET when a strong green candle closed at 1.298. A doji formed near 1.300 at 11:15 ET, suggesting possible exhaustion or a consolidation pause. This could act as a near-term ceiling to watch.

Moving Averages and MACD/RSI

The 20-period and 50-period moving averages on the 15-minute chart are both trending upwards, currently aligned at around 1.288–1.289. The MACD histogram showed a steady expansion in bullish momentum, with the fast line above the zero line, signaling a strong trend continuation. RSI reached overbought territory (above 70) at 1.300, indicating potential for a pullback or consolidation. The daily 50/100/200 SMA is also aligned bullish, with the 50 SMA crossing above the 100 and 200 SMA.

Bollinger Bands and Fibonacci

Bollinger Bands widened during the late ET push toward 1.300, with price closing near the upper band, suggesting a momentary overextension. The 20-period Bollinger setting shows a 1.278–1.302 channel. On Fibonacci retracement, the 61.8% level of the recent 1.271–1.300 swing sits at 1.293, a key level to watch for potential consolidation or a pullback. A retest of the 1.284–1.286 support zone (38.2% retracement) may also occur.

Volume and Turnover

Volume and turnover spiked during the late ET and early local morning hours, confirming the price move above 1.290–1.300. The highest turnover was seen in the 03:00–05:00 ET period, with several large-volume candles forming near 1.295–1.298. Notably, volume was strong on the rally but moderate on pullbacks, suggesting buyers were stepping in to defend key levels. A divergence in volume may appear if the price struggles to hold 1.290, particularly if the next candle closes below the 1.286–1.288 range.

Backtest Hypothesis

A viable backtest strategy for NEXOUSDT could focus on breakout entries when price closes above the 15-minute 20SMA with volume confirmation, followed by a stop-loss at the 1.280 support level. A Fibonacci-based target of 1.302 and 1.293 (61.8% and 1.295) could be used as take-profit levels. This approach may perform well in a trending environment but would need filtering for volatility and divergence to avoid false signals. Given the current structure and volume, this setup appears to align with the observed price behavior.