Market Overview for Nexo/Tether (NEXOUSDT) – January 8, 2026

Summary
• Price tested key support at 0.950–0.955, with bearish 5-min patterns emerging.
• Volume surged during late-night sell-off, with 152,493.75 USD traded between 02:45–04:45 ET.
• RSI hit oversold territory near 28, hinting at potential short-term bounce.
• Bollinger Bands show moderate volatility, with price consolidating near the lower band.
• MACD remains bearish, with a weak crossover and negative histogram.

24-Hour Summary

The Nexo/Tether pair (NEXOUSDT) opened at 0.977 on January 7, 2026, reached a high of 0.982, and a low of 0.947 before closing at 0.954 on January 8, 2026. Total volume traded over the 24-hour period was 679,949.21, with a notional turnover of 644,068.29 USD.

Structure & Formations

Price action on the 5-minute chart showed a bearish engulfing pattern during the early morning hours (01:30–01:45 ET), reinforcing downward momentum. A potential support level appears to be forming near 0.950–0.955, where price found brief bids after hitting a 24-hour low. A doji formed at 03:45 ET near 0.962, suggesting indecision and possible consolidation.

Moving Averages and Trends

On the 5-minute timeframe, price closed below both the 20-period and 50-period moving averages, reinforcing the short-term bearish trend. On the daily chart, the 50-period MA is at 0.963, while the 200-period MA is at 0.969, indicating a potential medium-term bearish bias.

Momentum and Oscillators

Relative Strength Index (RSI) dipped to 28 during the early morning session, indicating an oversold condition, but failed to trigger a strong rebound. The MACD remained in negative territory, with a bearish crossover and a shrinking histogram, suggesting waning momentum.

Volatility and Bollinger Bands

Bollinger Bands showed moderate volatility throughout the 24-hour period, with price frequently testing the lower band. A contraction in volatility was observed between 04:00–05:00 ET, followed by a breakout to the downside. This may indicate a potential continuation of the bearish trend.

Volume and Turnover

Volume spiked between 02:45–04:45 ET, coinciding with the move from 0.971 to 0.950, indicating strong bearish conviction. Turnover during this period totaled 18,640.77 USD. A divergence between declining price and stable volume was observed in the early afternoon, suggesting some short-term hesitation among sellers.

Fibonacci Retracements

Fibonacci levels applied to the most recent 5-minute swing (0.968–0.947) identified 0.956 as the 38.2% retrace and 0.951 as the 61.8% retrace level. Price briefly tested the 61.8% level but failed to hold above it. Daily Fibonacci levels from the previous week suggest that a bounce could face resistance at 0.961–0.963.

Price appears to be consolidating near key support with mixed signals from oscillators and volume. A potential rebound could face resistance at 0.961–0.965, but bearish momentum remains intact. Investors should watch for a breakdown below 0.950 as a sign of deeper selling pressure.