Market Overview for Nexo/Tether (NEXOUSDT)

Summary
• Price surged from $0.969 to $1.013, forming a bullish reversal pattern near $0.964.
• Momentum accelerated with RSI reaching overbought levels, while volume spiked in the final hours.
• Volatility expanded as price broke above the upper Bollinger Band, indicating heightened buying pressure.
• Fibonacci 61.8% level at $0.979 served as a key support; price now near $1.003 resistance.
• Turnover reached $70,082 with a surge in large-volume 5-minute bars after 15:00 ET.

Nexo/Tether (NEXOUSDT) opened at $0.969 on 2026-01-15 12:00 ET, hit a high of $1.013, a low of $0.961, and closed at $1.001 by 2026-01-16 12:00 ET. Total 24-hour volume was 481,065 and turnover reached $475,925.

Structure & Formations

Price found strong support at $0.964 after a bearish breakdown attempt, followed by a sharp reversal and a bullish continuation pattern. A key resistance cluster emerged near $1.000–$1.012.

Moving Averages

On the 5-minute chart, price surged above the 20 and 50-period moving averages, suggesting short-term bullish momentum. Daily averages (50, 100, and 200) remain uncalculated due to data constraints but appear supportive of the recent rally.

MACD & RSI

The MACD line crossed above the signal line during the afternoon surge, confirming bullish momentum. RSI reached overbought territory (~75) late in the session, suggesting a possible short-term pullback or consolidation ahead.

Bollinger Bands

Volatility expanded significantly after 15:00 ET as price surged above the upper Bollinger Band, indicating strong buying pressure. This breakout suggests a shift from consolidation to directional bias.

Volume & Turnover

Volume spiked during the final 6 hours of the session, particularly between 15:00 and 17:00 ET, with several 5-minute bars exceeding 40,000 units. Turnover mirrored the volume increase, confirming price action rather than signaling divergence.

Fibonacci Retracements

Recent swings show price testing and holding above the 61.8% Fibonacci level at $0.979 before extending the rally to $1.013. A retest of this level could provide a key support for short-term traders.

The market appears to be in a strong short-term bullish phase, with key resistance now at $1.003–$1.012. A close above $1.012 could trigger further upside, but a pullback to test $0.979 may be inevitable. Investors should remain cautious of potential overbought conditions and watch for volume confirmation in the next 24 hours.