Neo/Tether Market Overview (NEOUSDT): 2025-09-23

• Price action shows a bullish bias with a 6.012 high and 5.872 low over 24 hours.
• Momentum strengthened mid-cycle with a final close above 5.99.
• High volatility observed between 12:00 ET and 04:00 ET, with volume spiking at 5.947–6.004 levels.
• RSI and MACD confirmed bullish divergence late morning, suggesting possible continuation.

Neo/Tether (NEOUSDT) opened at 5.945 on 2025-09-22 at 12:00 ET and closed at 5.990 by 12:00 ET the next day, after hitting a high of 6.012 and a low of 5.872. Total traded volume was 247,304.34, and turnover amounted to approximately $1,473,210. The 24-hour period saw a volatile price swing, marked by sharp intraday corrections and bullish follow-through.

Structure & Formations

The 15-minute candlestick chart reveals a bullish consolidation phase between 05:00 and 09:00 ET, followed by a breakout above the 5.99–6.003 resistance range. Key support levels were observed at 5.95, 5.93, and 5.91, with the latter showing strong buying interest around 04:00 ET. A strong bullish engulfing pattern formed between 09:15 and 09:30 ET, confirming the reversal from a prior bearish trend. A doji appeared at 03:45 ET, indicating indecision ahead of the final surge.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into bullish territory after 06:30 ET, confirming a shift in momentum. The 200-period moving average on the daily chart remains a key long-term support at ~5.96–5.97, which the price held above during the session. The 50-period daily MA was recently tested and held, reinforcing a short-to-medium-term bullish bias.

MACD & RSI

MACD turned positive around 06:15 ET and maintained a bullish divergence toward the close. RSI crossed into overbought territory at 6.014 (61.5) at 07:00 ET, but remained in the overbought range until 11:15 ET, indicating sustained bullish momentum. The lack of immediate bearish correction suggests buyers remain in control.

Bollinger Bands

Volatility expanded between 12:00 ET and 04:00 ET, with price oscillating between the upper and lower bands. A contraction occurred around 05:00 ET, followed by a breakout above the upper band at 06:15 ET. The price closed near the upper Bollinger Band, suggesting heightened bullish pressure.

Volume & Turnover

Volume spiked at 19:30 ET with a large candle indicating accumulation, and again at 14:15 ET with a high of 6.004. Notional turnover increased significantly during the 09:15–09:30 ET bullish engulfing pattern. Price and volume action were aligned during the final surge, confirming strong follow-through buying.

Fibonacci Retracements

Recent 15-minute swings showed the price rebounding off the 61.8% retracement level at ~5.953 before surging. On the daily chart, the 38.2% level at ~5.975 was a key support during the session, which the price held before breaking higher. The 5.990 close aligns with a major Fibonacci confluence point, suggesting a potential continuation of bullish bias.

Backtest Hypothesis

A possible backtest strategy could involve entering long on a bullish engulfing pattern confirmation, with a stop loss placed below the previous swing low. The 09:15–09:30 ET engulfing candle provided a strong signal for a long entry, with a target aligned to the 61.8% Fibonacci level. Given the RSI’s overbought condition and strong volume confirmation, a trailing stop near the 5.96–5.97 level could have captured the full move. This strategy would need further refinement with a time filter or volatility component to reduce false signals during consolidation periods.