Market Overview for Nexo/Tether (NEXOUSDT): 24-Hour Summary (2025-09-14)

• Nexo/Tether (NEXOUSDT) closed near the session low after forming bearish reversal patterns late in the 24-hour window.
• Price tested key support at 1.280–1.281 before rebounding, while RSI approached oversold territory without confirming a reversal.
• Volatility increased mid-day as price tested key levels, with volume peaking at 7343.61 units during the bullish breakout attempt.
• Bollinger Bands showed moderate expansion, with price remaining within the upper and lower bounds most of the session.
• Fibonacci retracement levels suggested potential resistance at 1.287 and 1.292, and support at 1.278 and 1.280.

Nexo/Tether (NEXOUSDT) opened at 1.283 at 12:00 ET − 1, with a high of 1.292 and a low of 1.277 over the next 24 hours. The price closed at 1.278 at 12:00 ET today. Total volume amounted to 126,333.86 units, with a notional turnover of approximately $158,500 (based on trade amounts).

Structure & Formations

The NEXOUSDT pair showed a distinct bearish bias during the 24-hour period, with price forming key reversal patterns such as a bearish engulfing and a hanging man near the session high of 1.292. A notable bearish trend emerged after a failed attempt to retest the 1.291 resistance zone. Support was found at 1.280–1.281, where price reversed multiple times. A bullish hammer formed briefly at 00:3000, but the reversal was short-lived. The session closed with a bearish candle at 06:0000, printing a long lower wick and confirming pressure at the 1.278 level.

Moving Averages

Using 20- and 50-period moving averages on the 15-minute chart, the 50-period line crossed below the 20-period, forming a bearish death cross pattern. On the daily chart, price remained above the 50, 100, and 200-day moving averages, suggesting a possible short-term divergence from the broader trend. The 50-day MA at ~1.285 appears to act as dynamic resistance and a key level to watch in the near term.

MACD & RSI

The MACD line remained negative throughout the session, confirming bearish momentum, with the histogram showing a broadening bearish spread. RSI dropped to 30 at 05:3000 before recovering slightly, indicating a potential oversold condition. However, the price did not reverse decisively from that level, suggesting weak conviction among buyers. The 50-level on RSI was tested multiple times, with bearish divergence forming on the 15-minute chart.

Backtest Hypothesis

A potential backtest strategy could involve a short-bias trade triggered by a bearish engulfing pattern and a close below the 50-period MA on the 15-minute chart, with a stop-loss placed above the previous swing high. A take-profit level could be set at the 61.8% Fibonacci retracement of the most recent bullish move. This strategy would aim to capture the bearish momentum observed in the session while managing risk through a tight stop. Given the RSI and MACD dynamics, a time-based filter could be added to avoid entering late in the session when volatility subsides.