Market Overview for Nexo/Tether (NEXOUSDT) on 2025-10-25

• Nexo/Tether (NEXOUSDT) traded in a tight range near 1.14, with a 15-minute bearish consolidation after a morning rally.
• Momentum indicators show mixed signals, with RSI approaching oversold levels and MACD suggesting potential bearish divergence.
• Volume declined in the final hours of the day, with turnover diverging from price strength.
• A Fibonacci 61.8% retracement level appears to offer near-term support at 1.134–1.135, with key resistance above 1.143.
• The 20-period moving average dipped below the 50-period, indicating short-term bearish bias but not a strong trend.

Nexo/Tether (NEXOUSDT) opened at 1.141 on 2025-10-24 at 12:00 ET and closed at 1.135 on 2025-10-25 at 12:00 ET, with a high of 1.144 and a low of 1.131 over the 24-hour period. Total trading volume amounted to approximately 394,226.71 units, and notional turnover reached $457,608.04. The pair appears to be in a consolidating phase, with key support and resistance levels emerging on the 15-minute chart.

Structure & Formations

The 15-minute chart reveals a range-bound structure between 1.133 and 1.144. A morning rally from 1.135 to 1.144 was followed by a bearish consolidation, with a potential bearish engulfing pattern visible around the 1.143–1.136 range. The 1.134–1.135 level has acted as a strong support cluster, with three distinct bounces observed in the last 8 hours. This area could serve as a potential pivot for a short-term rebound.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period line during the late-night and early-morning hours, signaling a short-term bearish bias. The 50-period line, however, remains above the 100-period line, suggesting a more neutral to slightly bullish mid-term setup. On the daily chart, the 50-period moving average is trending upward but remains below the 200-period line, indicating a potential long-term consolidation phase without a strong directional bias.

MACD & RSI

The MACD has been in a bearish divergence phase since the early hours of the morning, with the histogram shrinking and the MACD line crossing below the signal line. This suggests weakening bullish momentum. On the other hand, the RSI has dipped below 30 for the last three hours, hinting at potential oversold conditions. However, the RSI has not bounced off this level yet, which may delay a meaningful counter-trend move.

Bollinger Bands

Bollinger Bands have expanded in the morning hours due to the 1.144 high, and price has since remained near the lower band, indicating bearish pressure. The most recent contraction in the bands occurred between 1.135 and 1.138, a period that coincided with lower volume. This contraction may precede a breakout or a continuation of the bearish trend, depending on how the 1.134 support level holds.

Volume & Turnover

Volume spiked early in the morning and again during the late-night hours, with the highest volume bar reaching 18,720 units at 1.134. However, volume has dropped significantly in the last 6 hours, despite the price dipping below the 1.136 level. Turnover has also declined, indicating weaker conviction in the bearish move. Divergences between price and volume suggest a possible short-term pause or reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the 1.135–1.144 swing reveals a 61.8% retracement level at 1.134–1.135, which has acted as a key support zone in the past 12 hours. The 38.2% level at 1.137 and the 23.6% level at 1.139 appear as potential resistance levels for a rebound. Traders may closely watch the 1.134 area for confirmation of whether this support level holds.

Backtest Hypothesis

The backtesting strategy described focuses on identifying bullish engulfing patterns in the NEXOUSDT pair and using a fixed 5-day holding period to manage positions. This strategy aligns with the current market setup, particularly if the 1.134 support holds and triggers a bullish reversal. The fixed holding period implies that the strategy is designed to capture medium-term momentum, making it relevant for traders who are looking to leverage Fibonacci retracement levels and candlestick signals. The current market environment may be favorable for such a strategy, as the oversold RSI and consolidative price structure could lead to a breakout or reversal within the 5-day window.